Latest news with #Dexus


Business Insider
20-06-2025
- Business
- Business Insider
Dexus (DEXSF) Receives a Buy from UBS
In a report released today, Tom Bodor from UBS maintained a Buy rating on Dexus (DEXSF – Research Report), with a price target of A$8.84. The company's shares closed last Wednesday at $4.31. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Bodor covers the Real Estate sector, focusing on stocks such as Goodman Group, Centuria Office REIT, and BWP Trust. According to TipRanks, Bodor has an average return of -0.7% and a 49.52% success rate on recommended stocks. The word on The Street in general, suggests a Hold analyst consensus rating for Dexus with a $5.07 average price target.

AU Financial Review
19-06-2025
- Business
- AU Financial Review
ASX to open lower; Oil rises, Wall St closed
Australian shares are poised to open lower again. Wall Street was closed for the Juneteenth public holiday. S&P 500 contracts retreated 0.9%. Europe's Stoxx 600 index closed 0.8% lower, falling for a third session. Asian shares dropped 1.4%. Brent crude advanced past $US78 a barrel, extending gains in a week where market reaction to the Middle East conflict has been most concentrated in oil. The dollar rose 0.2% Market highlights ASX futures are pointing down 41 points or -0.5 per cent to 8478 All US prices are as of 1.30pm New York time. AUD -0.8% to 64.56 US¢ Bitcoin +0.5% to $US104,611 On Wall St: Dow -0.1% S&P flat Nasdaq +0.1% VIX 2.03 to 22.17 Gold +0.1% to $US3,371.85 an ounce Brent oil +2.5% to $US78.63 a barrel Iron ore +0.5% to $US92.90 a tonne 10-year yield: US 4.39% Australia 4.21% Today's agenda Wall Street is closed for the Juneteenth holiday. Top stories Family trusts and electric vehicles in tax review spotlight | Higher taxes on family trusts and electric vehicle drivers are likely to be proposed by Treasury for Jim Chalmers to help pay for income tax cuts. | There's a growing sense of urgency within government about the need to secure a meeting with the US president. The $300 billion fund has only just been approved to manage assets internally. Dexus is already fighting with Australian Pacific Airports Corporation investors. Climate won't be central to Labor's environment law overhaul | Environment Minister Murray Watt said there were already mechanisms to deal with emissions from Australian coal and gas burnt overseas.


Bloomberg
18-06-2025
- Business
- Bloomberg
Link Real Estate Partners Eyes $100 Million Sydney Warehouse
Link Real Estate Partners, an investment platform run by BlackRock Inc. 's former head of Asia Pacific real estate John Saunders, is in talks to buy a warehouse in Sydney owned by Dexus, according to people familiar with the matter. A transaction could value the property at about $100 million, the people said, asking not to be identified because the matter is private. Link, based in Hong Kong, and Sydney-based Dexus are finalizing details of an agreement that could be reached as soon as this month, the people said.

News.com.au
11-06-2025
- Business
- News.com.au
Dexus rides CBD rebound, as Invicta House shows heritage still pays
Dexus sees strong demand for prime office space Melbourne's heritage building Invicta House reopens after major revamp Private lender Zagga backs STRE's refurbishment As one of the biggest landlords in Australia, Dexus (ASX:DXS) has its finger on the pulse of the nation's commercial property scene. In its latest March quarter update, Dexus reported rising occupancy, falling leasing incentives, and a shift back to premium CBD space. The company said it's proof that 'flight to quality' is alive and kicking. Dexus' office occupancy sits at 93.2%, well above the 86.3% market average, while industrial assets are even tighter at 95.7%. And crucially, Dexus says it's collecting every cent of rent. While some landlords are still tossing in sweeteners to fill space, Dexus says it no longer needs to dangle the carrot, especially in towers like Sydney's One Farrer Place where demand is strong. The company signed 13 new leases last quarter at Australia Square, and with 76% of its office assets planted in core CBD locations, it's seeing vacancy drop in Sydney, Melbourne and Perth. Melbourne's CBD just recorded its first fall in vacancy since 2021, while Sydney rents have jumped 10% year-on-year as landlords regain the upper hand. Meanwhile, corporate downsizing is running out of puff, with sublease space now down more than 50% since the peak of the Covid shuffle. 'The outlook for Australian real asset markets continues to improve, underpinned by strong population growth, high levels of employment, constrained supply pipelines and declining interest rates,' said Dexus' CEO, Ross Du Vernet. Invicta shows there's still value in vintage While Dexus rides the return-to-office wave in shiny towers, there's a revival unfolding in Melbourne's heritage buildings. Take Invicta House, a 1920s gem tucked a stone's throw from Flinders Station, recently given a new lease on life by ST Real Estate (STRE). Once home to a silk factory, later hosting Victoria Police and even Greenhouse Backpackers, this heritage-listing still carries the layers of Melbourne's past. Now, after an 18-month transformation, it's ready to turn the page, blending old-world charm with new-school functionality in the heart of the city. STRE picked it up for $37 million in 2021, a fair bit below what Swinburne Uni paid a few years prior, and then tipped in another $2 million for a modern refit, courtesy of highly regarded builder, Dewcape. Now, Invicta is back in business – with two new restaurants downstairs, rooftop terraces up top, and spec suites ready to show off to tenants who want more than just glass and steel. The refurb also added two extra levels, bringing the total net leasable area to over 5,000 square metres, a solid upgrade for a building that's nearly 100 years old. It even received the mayoral stamp of approval. Melbourne Lord Mayor Nicholas Reece was on hand to officially re-open the building, calling it a standout example of how heritage can be reimagined without losing its soul. 'This is an iconic redevelopment that creates a New York-style destination in the renowned precinct of Flinders Lane,' ST Real Estate Managing Director, Matthew Burrows, told Stockhead. 'We wanted to both retain the historical attraction of this building while also offering A-grade-level amenities. 'To see this building through to completion is a major milestone, and we are proud to showcase a modern look to a building that next year will be 100 years old.' Heritage isn't easy, however Burrows acknowledged that heritage refurbishments are difficult. 'It's cheaper to knock it down and build a glass box, to be honest. But you don't get the same retention of the Melbourne streetscape and the heritage,' he said. 'And we're patient long-term investors, it makes sense for us to just sit and hold .' Melbourne's market, though, hasn't exactly been playing nice, and with vacancy still around 8%, it's not exactly a landlord's paradise. 'Melbourne is probably one of the sickest markets in Australia at the moment,' Burrows said, but added that supply is drying up fast and demand will likely outstrip it over the next five years. 'You'll see vacancy come back to a level that's more in equilibrium, and fairer to both parties.' Flexible funding from Zagga While the spotlight is on the building, the real story behind Invicta's comeback was how it was funded. Instead of going cap in hand to the big banks, STRE went the private credit route, and that flexibility made all the difference. 'Private credit, and in particular Zagga, provided quite a compelling option for us due to its flexibility and deep understanding of construction finance,' Burrows said. 'It actually worked better for our delivery of the project than if we dealt with the big four.' He explained that traditional banks offered cheaper rates, but came with tighter LVRs and far more hoops to jump through. The breathing room afforded by Zagga gave STRE the confidence to finish the building first before kicking off leasing. It's a strategy aimed at attracting the right A-grade tenants, who often need to see and feel the space before signing anything long term. 'Pre-committing leasing is an incredibly difficult business, as smaller, more nimble occupiers need to see a completed product. 'Zagga gave us the flexibility to fund the construction and hold back the leasing campaign until completion, giving us the opportunity to attract long-term quality tenants by allowing them to experience the space firsthand.' Now, with 80% of the building already leased, that strategy seems to be working nicely. Invicta House is proof that old buildings can still pay new dividends, if you've got the patience, the plan, and a partner who gets the job done.


Daily Telegraph
10-06-2025
- Business
- Daily Telegraph
Australia's first skyscraper reopens
Australia's first ever skyscraper has undergone an extensive three-year renovation and has now reopened for business. On the steps of Circular Quay, 33 Alfred Street holds a special place in Sydney's history as the first building to break the city's 150-foot height limit and was Australia's tallest building at the time, at 117 metres tall. Since its inauguration by Prime Minister Sir Robert Menzies in 1962 it has stood as a testament to the city's post-war growth, architectural innovation and as a hub for business and commerce. The 26-storey building has undergone an extensive three-year restoration and has now been reopened by NSW Premier Chris Minns, completing the Quay Quarter Sydney office and retail precinct. MORE: New blow for those earning less than $290k 33 Alfred Street's original heritage charm and distinctive design features were retained, with the building's iconic golden facade upgraded using 5,000 specially designed panels, increasing natural light, reducing glare and enhancing views of Sydney Harbour. The floors and building services have also been modernised. MORE: Rents fall in one third of Sydney suburbs Insane amount celebs spend on Aussie homes The building has been redeveloped to achieve 5.5 star NABERS Energy rating for the base building and a 6-Star Green Star – Office As Built v3 rating, with the restoration delivered by Dexus as the development manager and Australian-owned contractor Built. MORE: Mystery buyer of Sydney's skinniest waterfront revealed Dexus' group chief executive officer and managing director Ross Du Vernet said it has been a 'privilege to bring this landmark back to life.' 'The reopening of 33 Alfred Street begins a new chapter for this iconic building as a modern, sustainable workplace for more than 2,500 Sydneysiders,' he said. The reopening of 33 Alfred Street, which is co-owned by Dexus Wholesale Property Fund and Mirvac Wholesale Office Fund, has direct access to the now completed Quay Quarter Sydney precinct which also features the award-winning Quay Quarter Tower and Quay Quarter Lanes. Together, these offer city visitors access to more than 35 cafes, bars, specialty restaurants, casual dining options and lifestyle, health and wellbeing outlets. Scott Mosely, Mirvac's chief executive officer funds management said the transformation is an example of their 'commitment to exceptional quality assets with a focus on sustainable design and long-term investment performance.' 'A Sydney icon for over 60 years, this transformation will ensure 33 Alfred Street remains a Sydney landmark into the future.' The building has been transformed into a 'state-of-the-art' office tower spanning around 32,000 square metres. The re-use of the existing structure has minimised landfill waste and extends the life cycle of the building. MORE: Sydney's friendliest neighbourhood revealed Mum with prize home has surprise dilemma