- Market closed at 6,852.10 points
- MRI Software set to acquire PropTech Group for $93.4M
- Vicinity Centres' Grant Kelley will retire by 30 June 2023
On the spookiest day of the year, the market got off to a strong start, jumping by over a per cent within the first hour of trading.
A couple of quarterly announcements and changes in management peppered the morning, with major news in the afternoon: MRI Software set to acquire PropTech Group for $93.4 million.
The ASX200 closed on Monday at 6,852.10 points, up 66.4 points or 1% for the day.
The movement
Monday’s real estate market news began with changes to the Growthpoint Properties (ASX: GOZ) board. Growthpoint announced that Geoff Tomlinson will retire from his position as Director and Chair of the Board of Growthpoint, effective 1 March 2023.
Andrew Fay will join the Growthpoint Board as an independent non-executive director, effective 1 December 2022.
Vicinity Centres (ASX: VCX) announced the retirement plan of CEO and MD Grant Kelley. Mr Kelley will retire from Vicinity by 30 June 2023 after more than five years in the role.
Elanor Commercial Property Fund (ASX: ECF) released its Q1 FY23 results, with highlights including funds from operations for the period of $9.69 million, or 3.06 cents per security, distribution for the period of 2.35 cents per security, and the execution of a new five year lease to ITV Studios Australia over approximately 2,000 square metres at 19 Harris Street Pyrmont.
Land and Homes Group (ASX: LHM) released its quarterly activities report with the company noting it conducted analysis into the rising cost of construction and how it will impact the company’s projects. The company said “This has resulted in further advanced design initiatives to mitigate cost of the proposed 490 apartment project on Brisbane’s CBD edge. The company has also undertaken a positive review of revenue projections in light of the projected increase in residential demand.”
Tian An Australia (ASX: TIA) announced the company entered into a joint venture with LFD Chatswood Pty Ltd, an Australian residential property development company, to construct a mixed-use development at 5-9 Gordon Avenue Chatswood NSW 2136.
The project will consist of approximately 82 luxury apartments with approximately 1,530 square metres of retail shops or other commercial uses.
In Openn Negotiation’s (ASX: OPN) quarterly, the company highlights included 23% growth in uploads to the platform year on year via Australia and New Zealand operations; the North American operations complete 85% milestone to roll-out, and partnership agreements with Century 21 Australiasia and Realty Assist.
The biggest news for Monday – MRI software announced it is entering into a binding Scheme Implementation Deed to acquire 100% of PropTech Group Limited (ASX: PTG).
Read more here.
That’s the latest in ASX-listed real estate.
