The 7 must-know numbers of the week
The combined size of six South Australian vineyards being offloaded by Cheviot Kirribilly Vineyard Property Group. The organisation says deteriorating market conditions has forced it to sell the assets. “In crude terms grape growers must now ‘find a route to market’ for their products,” Chevriot says in its ASX note.
The discount on the standard variable mortgage rate being offered by new Westpac offshoot Bank of Melbourne for new customers who sign up for multiple products. “We will reward customers for the depth, breadth and quality of their banking relationship with Bank of Melbourne,” says chief executive Scott Tanner.
The occupancy rate for Brisbane hotels, which are undergoing a recovery driven largely by coporate travel. Occupancy rates in January, just after the floods, was 60% in the Queensland capital, and takings per room per night have increased from $163 to more than $200. Hotels and resorts on the Gold Coast, however, are not enjoying the same recovery, as the tourism industry is still waning.
The number of new home loan commitments by first-home buyers for the month of May 2011. RP Data predicts that the slowdown in first-home buyers entering the market will lead to robust rental growth and falling rental vacancies.
The price hopes for the first of the four cottages featured in the Channel 9 hit The Block to be marketed on the internet. It is estimated that the house cost about $1 million to buy and renovate, but Channel 9 is happy to make its money from big-name advertisers, rather than flipping property for profit. All four cottages will be auctioned on August 20.
The total returns on Sydney prime office space by 2012, as forecast by CB Richard Ellis. The company says as fewer incentives are offered to tenants in this market and the capitalisation rate compresses, building valuations will go up, and with them, rental yields.
The amount theatre impressaio Michael Edgley, who has filed for bankruptcy, owes his creditors. Edgley, who brought acts like Moscow Circus and Cirque du Soleil to Australia, took out a $4.5 million loan for a Lower Beechmont property in 2007. Receivers sold the property earlier this year for $2.35 million.