ASX-listed Chinese-backed property developer Boyuan Holdings has teamed with Westfield shopping centre owner Scentre Group and the Western Sydney University to create a major new town in western Sydney near the planned airport at Badgerys Creek. Boyuan’s other projects include a resort in Pokolbin in the NSW Hunter Valley and residential and commercial projects in…
Category: Australian Heritage
Chinese buyers pay top dollar for Hawkesbury properties
The sale of Windsor’s Lachlan Court building to a Chinese buyer is part of a trend happening around the Hawkesbury. The $9.5m figure achieved was only possible by marketing it overseas, selling agent David Lee from Leaders Estate Agents at Gladesville told the Gazette on Thursday. “Local developers could only come up with $6m,” he said….
Historic landmark mansion sold $52.5m suspected offshore Chinese buyer
A historic Melbourne mansion that was once Victoria’s Government House and the home to governors has changed hands for $52.5 million, smashing the state’s residential price record. Art dealer Rod Menzies has sold Stonington mansion at 336 Glenferrie Road in the prestigious southeastern suburb of Malvern, public records show. The buyer is listed as the…
Rise of imported seafood as commercial fishermen squeezed out
THE Central Coast has a wealth of wonderful waterways. And latest catch data shows local fish stocks are on par with a decade ago but most of the seafood on offer is imported. Amid the rush for seafood ahead of Good Friday, a traditional meat-free day, the Express Advocate can reveal the majority of fish…
Goulburn sells Edith Creek UHT dairy factory to Thai company Dutch Mill
A MILK factory in Tasmania’s North-West has been sold to a Thai company on the eve of its closure. Murray Goulburn announced earlier this year it would close three factories — including the Edith Creek UHT plant near Smithon — by the end of the year. More than 120 workers were employed at the Tasmanian…
Chinese police seize 14,000 bottles of counterfeit Penfolds wine
THOUSANDS of bottles purporting to be Penfolds’ top-shelf wine have been seized in an anti-counterfeit operation in China. Chinese police seized 14,000 bottles of counterfeit wine following a complaint by Penfolds’ parent company Treasury Wine Estates about three months ago. The fake premium products were sold through Chinese giant Alibaba’s consumer-to-consumer website Taobao with sales…
130-year-old Brownes Dairy sold to Chinese firm.
One of Western Australia’s most recognised household dairy names — the 130-year-old Brownes Dairy — has been sold to a Chinese firm. Brownes chief executive Tony Girgis announced today the private equity group Archer Capital had sold the company to Shanghai Ground Food Tech, who they described as “experienced dairy operators who understand the industry”….
Traralgon farming family hit with $40K rates bill after council rezoned their land
FIVE generations of farming is under threat in Traralgon because of a council gouge that increased a family’s rates to $40,000 a year. The Marshall family has worked 325 acres of land on the outskirts of the rural city since 1928. But they are now swimming in debt because of the rates, and wondering how…
Yougawalla Pastoral Company sells Cattle stations to Hong Kong billionaire
The Kimberley’s Yougawalla Pastoral Company, has found a new owner — Hong Kong billionaire Hui Wing Mau. The total investment has not been disclosed, but is believed to be worth $70 million. Mr Hui is the founder of Hong Kong property developer Shimao Group, with projects in Asia and Australia. And now one of China’s…
Foreigners in charge of Australia’s dairy destiny: Murray Goulburn sale
THE Australian dairy industry is no longer in charge of its own destiny. ANALYSIS: And the days of the large dairy co-operative are over. If Canada’s Saputo, with an annual turnover of $US8.4 billion last year, is successful in buying Murray Goulburn it would control up to three billion litres of milk in the Australian…
Murray Goulburn sold to Canadian – owned Saputo for $1.3 billion
CANADIAN family dairy company Saputo Inc has won the battle for Victorian-based dairy co-operative Murray Goulburn. Murray Goulburn has announced it has entered into a binding agreement to sell to Saputo Dairy Australia Pty Ltd, the Australian arm of the Canadian dairy giant, for $1.3 billion. The deal is subject to approval from the Foreign…
Chinese developers buy one-third of Australia’s sites in 2016
Chinese developers bought almost 40 per cent of the total $5 billion spent on Australia’s residential development sites in 2016, with a clear trend towards buying up land in far-flung Sydney and Melbourne suburbs, new research shows. Knight Frank’s report, The Rise of Chinese Developers in Australia, found Chinese developers bought $2.4 billion of residential development sites in…
