logo
#

Latest news with #Federation-style

Chemist Warehouse billionaires buy up big in Mosman
Chemist Warehouse billionaires buy up big in Mosman

Sydney Morning Herald

time03-07-2025

  • Business
  • Sydney Morning Herald

Chemist Warehouse billionaires buy up big in Mosman

The campaign to sell The Ronan generated 149 enquiries from developers, investors, and automotive occupiers, said Lachlan Worthington and Tim Fox from PropertyFox. The complex was ultimately snapped up by a local private investor. Hot spot Bustling Newcastle has become the hot spot for property rich listers and philanthropists alike, who are joining an investment conga line heading north. They include billionaires Dr Jerry Schwartz and former banker-turned-art collector Simon Mordant. Having been dormant for many years, the northern NSW capital is undergoing a resurgence with billions of dollars of capital pouring in as the population swells. In the past week, the NSW government announced a $1 million heritage grant to help revive Newcastle's grand old dame, the Newcastle Post Office. After a protracted ownership history, Schwartz purchased the building in 2019 for $3.5 million through Colliers. Under the Schwartz Family Company, it will match the government funding dollar for dollar to transform the Newcastle Post Office into a community hub with retail, hospitality and event spaces. The 1903 Federation-style building designed by Walter Liberty Vernon will include an adaptive reuse to create a miniature 1960s display of Newcastle, and Australia's first Aboriginal medical museum. Loading Schwartz said he bought the Newcastle Post Office 'because of my deep connections to the city and the desire to revitalise an iconic heritage building that means so much to local residents'. Meanwhile, Mordant, who made his mark as an investment banker on high-profile mergers and acquisitions and now lives in Italy with his wife Catriona, will pass on 25 works from the couple's private collection to the Newcastle Art Gallery when it reopens in September after an extensive expansion. The donation includes works on paper by Ngarrindjeri artist Ian Abdulla, a collage of digital print and oil by John Young and sculptures by Novocastrian artist Jamie North. The Duke changes hands Pub baron John Azar has extended his footprint in the booming sector, paying $25 million for the popular Duke of Dural pub in Sydney's west. The pub was sold by Momento Hospitality, which is owned and operated by the Colosimo family, who built the Duke from the ground up during the global pandemic and opened it in November 2020. Momento will use the cash to focus on its other assets including the newly opened Oran Park Hotel. Sitting on 2700 square metres within the Dural Town Centre in The Hills district, the Duke pub generates more than $150,000 in weekly sales across food, beverage, and pokie machines. Azar's stable includes the Hotel Coronation, Keg & Brew Hotel in Surry Hills, and the Edinburgh Castle Hotel. He recently sold the Union Hotel in North Sydney to fellow pub investor Ashton Waugh. JLL Hotels' Ben McDonald and John Musca managed the Dural deal. Sheds sell Stockland has struck a deal to sell four institutional-grade logistics sheds in two of Australia's most tightly held industrial markets to Cadence Property Group for $170.5 million. The portfolio in Melbourne and Sydney has a total site area of about 159,000 sq m and lease space of about 78,000 sq m.

Chemist Warehouse billionaires buy up big in Mosman
Chemist Warehouse billionaires buy up big in Mosman

The Age

time03-07-2025

  • Business
  • The Age

Chemist Warehouse billionaires buy up big in Mosman

The campaign to sell The Ronan generated 149 enquiries from developers, investors, and automotive occupiers, said Lachlan Worthington and Tim Fox from PropertyFox. The complex was ultimately snapped up by a local private investor. Hot spot Bustling Newcastle has become the hot spot for property rich listers and philanthropists alike, who are joining an investment conga line heading north. They include billionaires Dr Jerry Schwartz and former banker-turned-art collector Simon Mordant. Having been dormant for many years, the northern NSW capital is undergoing a resurgence with billions of dollars of capital pouring in as the population swells. In the past week, the NSW government announced a $1 million heritage grant to help revive Newcastle's grand old dame, the Newcastle Post Office. After a protracted ownership history, Schwartz purchased the building in 2019 for $3.5 million through Colliers. Under the Schwartz Family Company, it will match the government funding dollar for dollar to transform the Newcastle Post Office into a community hub with retail, hospitality and event spaces. The 1903 Federation-style building designed by Walter Liberty Vernon will include an adaptive reuse to create a miniature 1960s display of Newcastle, and Australia's first Aboriginal medical museum. Loading Schwartz said he bought the Newcastle Post Office 'because of my deep connections to the city and the desire to revitalise an iconic heritage building that means so much to local residents'. Meanwhile, Mordant, who made his mark as an investment banker on high-profile mergers and acquisitions and now lives in Italy with his wife Catriona, will pass on 25 works from the couple's private collection to the Newcastle Art Gallery when it reopens in September after an extensive expansion. The donation includes works on paper by Ngarrindjeri artist Ian Abdulla, a collage of digital print and oil by John Young and sculptures by Novocastrian artist Jamie North. The Duke changes hands Pub baron John Azar has extended his footprint in the booming sector, paying $25 million for the popular Duke of Dural pub in Sydney's west. The pub was sold by Momento Hospitality, which is owned and operated by the Colosimo family, who built the Duke from the ground up during the global pandemic and opened it in November 2020. Momento will use the cash to focus on its other assets including the newly opened Oran Park Hotel. Sitting on 2700 square metres within the Dural Town Centre in The Hills district, the Duke pub generates more than $150,000 in weekly sales across food, beverage, and pokie machines. Azar's stable includes the Hotel Coronation, Keg & Brew Hotel in Surry Hills, and the Edinburgh Castle Hotel. He recently sold the Union Hotel in North Sydney to fellow pub investor Ashton Waugh. JLL Hotels' Ben McDonald and John Musca managed the Dural deal. Sheds sell Stockland has struck a deal to sell four institutional-grade logistics sheds in two of Australia's most tightly held industrial markets to Cadence Property Group for $170.5 million. The portfolio in Melbourne and Sydney has a total site area of about 159,000 sq m and lease space of about 78,000 sq m.

Rinehart's $250 million development unveiled as Zempilas rules out heritage call conflict
Rinehart's $250 million development unveiled as Zempilas rules out heritage call conflict

The Age

time04-05-2025

  • Business
  • The Age

Rinehart's $250 million development unveiled as Zempilas rules out heritage call conflict

Planning documents show former lord mayor Basil Zempilas' move to drop a 120-year-old home from a City of Perth heritage survey is a key justification in billionaire Gina Rinehart's bid to demolish the property. The development application, lodged by consultants for Rinehart's family empire Hancock Prospecting, seeks approval to clear three office buildings and the Federation-style home at 27 Outram Street to make way for a $250 million multi-use development. The consultants highlighted there were no heritage constraints that would inhibit the plans, pointing to the City of Perth council's decision in 2023 to drop the property, along with 15 others, from its heritage survey. But there was no mention of Hancock Prospecting's planning consultants lobbying the city not to elevate the building's heritage status, nor the fact the decision divided council and went against the advice of city officers. The property was one of more than 700 culturally significant places the city's officers recommended be added or updated in its records as part of a state-mandated heritage survey, with an inspection finding the home substantially intact. Loading Officers stared down those who objected to the inclusion of 16 properties, recommending the council adopt the survey and reiterating their inclusion should not be conditional on owner support. But at the meeting on March 28, 2023, Zempilas stepped in, moving an alternate motion to scrub the properties from the list that divided councillors until he used his casting vote to break the deadlock. Revelations the home faced an uncertain future, coupled with the former Seven West Media personality's well-documented relationship with Rinehart in the years since, have thrust the decision into the spotlight.

Rinehart's $250 million development unveiled as Zempilas rules out heritage call conflict
Rinehart's $250 million development unveiled as Zempilas rules out heritage call conflict

Sydney Morning Herald

time04-05-2025

  • Business
  • Sydney Morning Herald

Rinehart's $250 million development unveiled as Zempilas rules out heritage call conflict

Planning documents show former lord mayor Basil Zempilas' move to drop a 120-year-old home from a City of Perth heritage survey is a key justification in billionaire Gina Rinehart's bid to demolish the property. The development application, lodged by consultants for Rinehart's family empire Hancock Prospecting, seeks approval to clear three office buildings and the Federation-style home at 27 Outram Street to make way for a $250 million multi-use development. The consultants highlighted there were no heritage constraints that would inhibit the plans, pointing to the City of Perth council's decision in 2023 to drop the property, along with 15 others, from its heritage survey. But there was no mention of Hancock Prospecting's planning consultants lobbying the city not to elevate the building's heritage status, nor the fact the decision divided council and went against the advice of city officers. The property was one of more than 700 culturally significant places the city's officers recommended be added or updated in its records as part of a state-mandated heritage survey, with an inspection finding the home substantially intact. Loading Officers stared down those who objected to the inclusion of 16 properties, recommending the council adopt the survey and reiterating their inclusion should not be conditional on owner support. But at the meeting on March 28, 2023, Zempilas stepped in, moving an alternate motion to scrub the properties from the list that divided councillors until he used his casting vote to break the deadlock. Revelations the home faced an uncertain future, coupled with the former Seven West Media personality's well-documented relationship with Rinehart in the years since, have thrust the decision into the spotlight.

Century-old home facing demolition fell off Perth heritage list in move that divided council
Century-old home facing demolition fell off Perth heritage list in move that divided council

Sydney Morning Herald

time30-04-2025

  • Business
  • Sydney Morning Herald

Century-old home facing demolition fell off Perth heritage list in move that divided council

The 120-year-old Outram Street home facing demolition to make way for Gina Rinehart's $250 million West Perth development was on the cusp of being added to Perth's heritage list until former lord mayor Basil Zempilas intervened. In a statement to this masthead, the City of Perth revealed the property had been identified as part of a two-year-long survey of culturally significant places for its database between 2021 and 2022. The expansive 4000-page review, mandated under the state's heritage laws, canvassed more than 700 properties the city's officers recommended be added or updated in its records. City officers inspecting the property found the single-storey Federation-style home at 27 Outram Street in West Perth was substantially intact — having retained the original timber porch, doors, fireplace and tiles — and ruled it worthy of inclusion due to its historical significance. Perth-based consultants Planning Solutions, engaged by Hancock Prospecting – which had purchased the property for $4.23 million in 2021 – penned a strongly worded letter to the city on November 30, 2022. In it, the consultants acknowledged the 1904 home built had 'moderate significance', but demanded assurances its status would not be elevated in a way that saw it subject to development constraints. The consultants, which were among 21 to write a letter of objection to the city's plans, then gave a public deputation against the inclusion of the home and Hancock Prospecting's 1980s headquarters, which had been identified for its association with mining pioneer Lang Hancock. The city's officers stared down those who objected to the inclusion of 16 properties, including 27 Outram Street, recommending the council adopt the survey in its original form. But when it came time for council to endorse the survey at a meeting on March 28, 2023, Zempilas stepped in, moving an alternate motion that scrubbed the properties from the list.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store