Understanding Conveyancing Fees

We are also concerned that stamp duty relief cuts out at $250,000 when the median house price in Adelaide is exactly that according to the latest statistics,” says REISA President, Robin Turner. He says REISA is not happy that the maximum concession applies for a property of $150,000 – $100,000 less than the current median price.

The conveyancing also, this amount is not subject to annual review so if property prices continue to rise, first homebuyers will be left out in the cold again.” More growth in the property market is something the State Government has taken into account, at least in its revenue estimates for 2003-04, revising them upwards to reflect “continuing strength in the property market impacting on stamp duty and land tax receipts.

REISA would have liked to see full stamp duty exemptions for first homebuyers up to the current median house price, with phased exemptions applying for property over $250,000. In its budget the state government also made a token gesture on Land Tax, introducing instalment and credit card payment options while the budget predicts “a $64 million increase in land tax receipts reflecting increases in site values”, bringing land tax receipts up to around $269m for 2004-05.

PARSIPPANY, NJ-Cadbury Schweppes has subleased 136,000 sf of office space at Morris Corporate Center IV here, GlobeSt.com has learned. The British-based soft drink maker will move its North American headquarters here from multiple locations in the tri-state area, notably Stamford, CT and Rye Brook, NY.

The deal was arranged for the sublandlord, pharma giant Sanofi-Aventis, by Daniel J. Loughlin and Thomas J. Stanton III, managing principals in the New Jersey office of the Staubach Co., Murray Hill. SJP Properties, based here, owns Morris Corporate Center IV, a 700,000-sf, 35-acre complex built in two phases.

The initial 350,000-sf first phase was built in 1999 and fully leased to what was then Aventis Pharma. That company was acquired last year with the backing of the French government by smaller rival Sanofi-Synthelabo, and the renamed Sanofi-Aventis opted for another Aventis location in Bridgewater, NJ as its North American HQ.

Analysis of the Real Estate Commercial Property

The local space, amounting to 350,000 sf, was freed up and placed on the sublease market as a result of the merger. The Cadbury Schweppes signing marks the second big catch for Staubach in its effort to fill the space for Sanofi-Aventis. Earlier, the firm signed Reckitt Benckiser N.A. to 140,000 sf, and overall, about 50,000 sf, including a 6,000-sf data center, remains available for sublease, according to Loughlin.

We are progressing to the final stage of this corporate property disposition, Loughlin tells GlobeSt.com. “From the outset, our marketing strategy focused on tenants with sizable requirements, and with an appreciation of the building’s unique two-pod design.
Property Conveyancing Brisbane “The addition of Cadbury along with Reckitt Benckiser, both in separate building pods, creates two distinctive corporate headquarters environments,” Loughlin continues, “But it also allows both occupants to share the existing amenities originally developed in the building.

For Cadbury Schweppes, the move also places two of its chief North American units in very close proximity. Cadbury Adams, the company’s candy and gum division, is getting set to move into a new 150,000-sf office and technology center just down the road in Hanover Twp. As reported by GlobeSt.com, Capital Lease Funding of New York City recently bought the under-construction building from the Archon Group for $48 million, or about $320 per sf.

A host of larger cities and a coalition of smaller cities have submitted bids to host the California Institute of Regenerative Medicine, a new entity created to dispense $3 billion in stem cell research money approved by voters under Proposition 71 in November. Los Angeles, San Diego, Sacramento, San Francisco, San Jose, Emeryville and the San Mateo County Economic Development Association all submitted bids before Wednesday’s deadline.

The bids were submitted this week to the institute’s Sacramento-based site selection committee. Committee officials will review the options and on April 22 select its first choice and a runner up. The final choice will be made May 6. The institute is expected to open its permanent headquarters in July. The bid requirements called for 17,000 sf of low- or no-cost office space to be provided for 10 years, at least 40 spaces of free parking and low-cost meeting and hotel facilities.

The institute states that these are “minimum requirements,” which could mean the additional benefits will decide the winner. As part of San Francisco’s bid, Stockbridge Capital partners is offering to provide 20,000 sf of new office space across from SBC Park in Mission Bay (250 King Street) and provide it turnkey and free of charge to the institute for 10 years. In addition, Joie de Vivre Hospitality and Kimpton Hotels are offering more than 2,500 free room nights and additional 14,000 discounted room nights valued at $1 million, and Gensler Architects and general contractor Hathaway Dinwiddie also are offering free services.

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As part of the package, the City of San Francisco is offering to link the institute to its fiber optic network and provide free or low cost lab and conference space on the San Francisco General Hospital campus. By Thursday morning, San Francisco was the only city that had posted its full proposal on its Web site as requested by the institute.On the City of Los Angeles’ Web site, a letter from its mayor detailed the major components of its proposal: free Downtown office space in City National Plaza, free meeting space at the Los Angeles Convention Center, occasional use of a private corporate jet and $1 million in foundation grants.

San Diego is reportedly offering free rent for 10 years in view space in the city’s biotech hub, as well as free grant-making consulting services from companies that work with the National Cancer Institute. San Jose’s bid reportedly includes the option to choose from two sites, one near the airport and the other downtown.In addition, it is said to include free conference center use, discount furniture, interior design services, and free or discounted hardware and software equipment from Silicon Valley companies such as Hewlett-Packard conveyancing experts, city of Emeryville and Wareham Development, which owns about 1 million sf of lab space in the area, have plans to keep the headquarters in Emeryville.

According to published reports, their offer includes free rent as well as a promise to support the biotech industry by speculatively developing a four-story, 200,000-sf laboratory and office building on a 2-acre parcel it is acquiring east of EmeryStation near Hollis and Powell streets. The City of Sacramento is offering free rent in a building at One Capital Mall and $800,000 in tenant improvements in cooperation with the building owner, the Tsakopoulos family.

In addition, the city will provide 40 parking spaces, free convention and meeting facilities, and discounts on hotel accommodations, office equipment and furniture, a city spokesperson tells GlobeSt.com. ATLANTA-Duke Realty Corp.’s 13-year-old client relationship with Switzerland-based Leica Geosystems has resulted in a 10-year, 80,000-sf lease in a 100,000-sf building Duke bought just to accommodate Leica’s requirements.

Duke officials declined to disclose the value of the leasing transaction but area brokers familiar with the suburban Norcross submarket tell the deal is in the range of $16 million. Duke will lease the remaining 20,000 sf to other tenants at a gross asking rent of $19.50 per sf.

That initial lease grew to 50,000 sf Leica currently occupies. Duke Construction, a division of Indianapolis-based Duke Realty Corp., is handling renovations on the 100,000-sf building which is expected to be ready for occupancy early in the second quarter. LOS ANGELES-The buyers of a 109,000-sf land parcel at the corner of Wilshire Boulevard and Hoover Street plans to build a 22-story condo tower with ground floor retail space at the Koreatown site, according to Lee & Associates.

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Matthew Artukovich of the City of Commerce office of Lee tells GlobeSt.com that the buyers, a group of private investors doing business as Wil-Tower LLC, paid $11.3 million for the parcel at 2900-2942 Wilshire Blvd., which is leased and occupied by Midway Car Rental. Artukovich was part of a Lee team including Mollie Dietsch and Anita Artukovich that represented the seller, Right Hero Industries USA of Taiwan, which had owned the property for 14 years.


Campbell tells GlobeSt.com that Wil-Tower LLC has not yet set a construction schedule for the development. Artukovich says that part of the construction project will involve measures to eliminate seepage of crude oil onto the property from naturally occurring oil fields in the area, which he estimates will probably add several million dollars to the cost for conveyancing legal counselors.

According to Artukovich, the condo project will target the Koreatown multifamily market, which is one of the strongest submarkets in a robust Southern California multifamily market. The development site is “one of the last big pieces of land” available for development in Koreatown, which has been attracting investors and developers who are renovating apartments.

GILBERT, AZ-Fairfield Residential LLC has just closed on 30.4 acres in the 1,400-acre Spectrum at Val Vista master-planned community, paying $7.7 million for enough land to hold 624 units in two projects. The San Diego-based developer plans to break ground in April on the 364-unit Azul at Spectrum and 260-unit Borrego at Spectrum, Ed McCoy, vice president of development for Fairfield Residential, tells GlobeSt.com. The projects will deliver in summer 2006.

This is a great location within a very nice master-planned community with a lot of amenities,” McCoy says, adding the complexes will be different from the design to the landscaping. Fairfield has carved out 17.4 acres for the Azul at Spectrum, designed with 204 one-bedroom units, 144 two-bedroom apartments and a dozen three-bedroom designs.

The balance of the land will hold the Borrego: 144 one-bedroom units, 108 two-bedroom apartments and a dozen three-bedroom layouts. Both complexes are designed with units ranging from 715 sf to 1,322 sf. Rent is projected to be more than $1 per sf. “The project is in the heart of Gilbert,” says Mark Forrester, a partner with Hendricks & Partners’ Phoenix office.

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He represented Fairfield Residential in the land acquisition while the seller was represented by Dale Willis of Willis Property Co. in Mesa. West End of Glasgow with the Waterfront Commenting on the scheme, Stannifer’s Douglas Smith said We have read a lot of press comment about Glasgow Harbour, an admirable concept, but one that is still some way away from becoming a reality Stannifer wants to be an important player in the revitalisation of this area.


The industrial land supply is expected to last only 15 more years. Current capitalization (cap) rates for fully leased industrial buildings range from 5% to 8%.This message itself is the first e-mail version of the new Forum newsletter prepared by the Communications Committee chaired by Rob Hawkins. Our breakfast seminar series at the Albany Club again addressed the key topics in our industry thanks to Moderators Rob Hawkins, Peter Johnston, Ross Moore, Andre Kuzmicki, Paul Morse and their esteemed group of panelists.

Our evening event organized by Mike Emory and Paul Morse at The Second City provided an excellent overview of Office Market and proved for the second year in a row that NAIOP is not just for breakfast anymore. Our annual golf tournament organized by Gary Morassutti was sold out again and together with this year’s Nike sponsorship program allowed NAIOP to make a $2,500 donation to the “Open Your Hearts for the Children” fund (c/o Scarborough Centenary Hospital).

The Education Committee chaired by Michael Pittana has been active since the beginning of the year exploring new education opportunities for members and held the first NAIOP Charrette on the “Future of Office Space” (special thanks here to Paul Brundage). arlier this year NAIOP also conducted its first member survey in over five years and a summary of the survey results have been provided later on in this newsletter.

Best conveyancing Brisbane reviews are Finally I would also like to thank the eighteen Chapter sponsors for their financial support of the Chapter and it’s many activities. Stay tuned for the fall line-up of NAIOP events. In addition to the fall breakfast seminars, Chapter events will include a suburban office bus tour, an idea exchange (road trip) and the annual recognition luncheon in December.

November 1, 2000 is the target date for the electricity market in Ontario to become deregulated, opening up a competitive supply of electricity for businesses and homes. What does this mean for real estate owners and managers? Currently, the price of electricity from your current utility is based on a fixed, pre-published rate schedule.

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Standard Supply Service for small users (under 50 kilowatts of demand) will be a fixed price, subject to Ontario Energy Board terms. For users with demand greater than 50 kilowatts, pricing will be on a spot market price pass-through, with the price varying hourly each day. Faced with purchasing options in a competitive retail market, building owners and managers can moderate price volatility and maintain or reduce current costs.


The remaining 45 per cent of your bill is for transmission and distribution (the “wires” portion), Competitive Transition Charge (Ontario Hydro’s stranded debt), administration fees and GST. Market rules – how the market will operate – are not yet established. Various utility transmission and distribution rates will gain Ontario Energy Board approval this summer.


Mark Lacey, director and head of National Agency comments, “This appointment is another important step in the continued expansion of the Group Steve’s arrival swells the National Agency Team and provides an even greater depth of hands-on service to our national and international clients Rogers Chapman has offices in West London at Heathrow, in the Thames Valley at Bracknell and the Irish office in Dublin as well as in the West End of London.

This market brings about many challenges to consider while building your strategy. You’ll have the option to select a retailer for your electricity supply. In all cases, suppliers need a license from the Ontario Energy Board that outlines rules and guidelines for selling electricity in the marketplace. Because we have one electricity supplier currently, contracts are not required.

In the new market, contracts will need to contain detailed obligations for both the consumer and retailer. Restrictive clauses and those that give up rights will likely be eliminated. Billing Under the new rules, the pricing and rate structure for electricity will change. Simply put, you’ll be able to buy electricity from a spot or futures market with prices changing every hour to Property conveyancing lawyers in Sydney .

You’ll also be able to purchase electricity through a bilateral contract with a generator like Ontario Hydro, providing you with a fixed price. The standard billing you currently receive will become more complicated. New information systems and software will be required for retailers, distributors, utilities and generators to manage the complex billing.

A Streamlined Process Designed to Make the Process Easier

A bill verification service could become mandatory, at least for the first year. Price Volatility Minimizing price volatility is another issue facing building owners and managers. Hourly prices for peak demand periods, mid-day during the summer, will reach 10 times or more over non-peak periods. Ice changes are based on supply and demand, the cost of energy generation and external factors such as weather.



Reducing and eliminating this volatility will be a key negotiating and operational strategy as we move forward in the deregulation market. Load Profile And Consumption Rates Knowing your buildings’ load profile and how and when electricity is consumed gives you more negotiating strength with a marketer or retailer.Selecting A Retailer Once you know your building’s electricity usage – each hour for all months and seasons – selecting the retailer will be your next challenge. Since the retailer may assume responsibility for the electrons up to your meter, that cost will have to be managed,requiring retailers to have significant financial strength Top flat fee conveyancers in Adelaide.

Retailers will also need experience and expertise in procuring power, professionalism in all operating aspects and the ability to negotiate the lowest price on your behalf. Also, for building portfolios, aggregation of usage for each location during the same time periods each day will be important. Large volume profile can improve your cost of buying electricity from a retailer.

Before deregulation starts, building owners and managers should create a well-formed strategy that considers the market facts and key challenges. your building has an interval meter (electronic meter with digital pulse outputs), investigate with your utility how a monthly/hourly profile of energy usage can be received.

Obtain at least 12 months of billing information, including total kilowatt-hours (kWh) and electrical peak demand (kW), and use this to identify your building’s electricity requirements. Arrange to meet the major marketers and learn their program and services for electricity supply. Consider consulting services to ensure you obtain current and professional guidance.

Learning the market and developing your information base will help you approach your deregulation strategy proactively.Beware of entering into a procurement contract right now. Keeping these two adages in mind – buyer beware and knowledge is power – is the best way you can prepare for the electricity deregulation market in Ontario.

If The Customer In Addition To Retailer Use The Same Conveyancer

The Directors announce that on 16 July 2002, Cashel Assets and Jetso Resources acquired 4 shares and 6 shares of par value US$1 each in Grand Creator BVI respectively. On the same day, Grand Creator BVI acquired all the issued shares of, inter alia, Grand Creator HK.


According to the Tender which has been formulated in the light of certain basic principles as set out in the Tender Invitation, Grand Creator HK shall pay the Mandatory Payment amounting to HK$350 million to MTRC and the Assessed Premium amounting to HK$1,276 million to MTRC who will accept the land premium offer in respect of the Development Site from the Government dated 31 May 2002  E Conveyancing Firm Melbourne.

Grand Creator HK shall pay the Mandatory Payment to MTRC on or before 17 July 2002 or on signature of the Development Agreement, whichever is the earlier. A sum of HK$127.6 million, being 10% of the Assessed Premium, shall be paid by Grand Creator HK to MTRC one day prior to the due date on 25 July 2002 as demanded by the Government in the manner prescribed in the Development Agreement.

Constitution of the board: a total of five directors, out of which two are nominated by Cashel Assets and three are nominated by Jetso Resources. Grand Creator BVI is an investment holding company. It is a joint venture entity formed by the Company and Sino Land to undertake the Hang Hau Station Development on a 40/60 basis.

On 16 July 2002, Grand Creator BVI acquired all the issued shares of, inter alia, Grand Creator HK. All the wholly-owned subsidiaries of Grand Creator BVI will be engaged for the purpose of the Hang Hau Station Development. Cashel Assets and Jetso Resources shall severally procure to make available to Grand Creator BVI such amount of working capital to undertake the Hang Hau Station Development, through Grand Creator BVI’s wholly-owned subsidiaries, on a 40/60 basis.

It is intended that bank financing shall be obtained by Grand Creator HK to finance the entire construction costs of the Hang Hau Station Development. Cashel Assets’ share of the capital commitment in Grand Creator BVI in terms of the initial transaction of the Hang Hau Station Development will be financed by internal resources and/or bank loans made available to the Group.

Tax Depreciation Schedule cost and Property Buyers

The terms of the formation of the joint venture for the purpose of undertaking the Hang Hau Station Development have been arrived at after arm’s length negotiations between Cashel Assets and Jetso Resources. The transaction involving the formation of a joint venture between Cashel Assets and Jetso Resources for the purpose of undertaking the Hang Hau Station Development constitutes a connected transaction for the Company under the Listing Rules. The total capital commitment in terms of the initial transaction of the Hang Hau Station Development to be contributed by the Group comprising the Mandatory Payment and the Assessed Premium represents more than 0.03% but less than 3% of the Company’s Net Tangible Assets.

In the event that Cashel Assets and/or the Company and /or any Company’s wholly-owned subsidiary(ies) give any financial assistance to Grand Creator BVI in the future, the Company will comply with the relevant requirements of the Listing Rules to take into account of the amounts shared by Cashel Assets in respect of the Mandatory Payment and the Assessed Premium for the purpose of aggregating the total amount of financial assistance granted to Grand Creator BVI.

An agreement to be made between MTRC, Grand Creator HK, the Company and Sino Land whereby the parties thereto agree to carry out and complete the Hang Hau Station Development pursuant to and upon the terms and subject to the conditions thereof. Grand Creator Investment Limited, a company incorporated under the laws of Hong Kong on 29 October 1996 and a vehicle used for the sole purpose of submitting the Tender.

The extension property developments at the Development Site comprising: (a) six residential towers with a total gross floor area of 138,652 square meters providing a maximum of 2,134 residential units; and (b) a podium fully integrated with a public transport interchange, a retail center with a gross floor area of about 3,500 square meters and some 369 car parking spaces depreciation strategy.

Everyone will be catered for, from the novice rider to the experienced polo player.” Mr. Al Humairi continued: “The spirit of the great outdoors will be everywhere at Arabian Ranches. Chartered Surveyor Robert Paine has joined Brighton based surveyors and commercial property consultants Car and Priddle and will assist the professional services department partner Wayne Priddle.

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The horses at Arabian Ranches will nearly be as pampered as its residents, with four horses per groom, resident trainers, farriers and a vet with access to a fully equipped treatment room. “The Equine Centre will be built to the highest standards and will be part of the community rather than an exclusive, private club. The polo fields will be used for a variety of social and community functions,” Mr. Al Humairi said.

Dubai, February 8, 2003: Emaar Properties PJSC, the leading real-estate developer in the region, today announced record annual profits of AED517 million for the year ended December 31, 2002, compared to AED342 million in 2001. The Tax Depreciation  Board of Directors of the company has proposed a total dividend of 10 per cent for the year, or AED1 per share, to be approved by shareholders at the annual general meeting on February 24, 2003.

Speaking to capital market analysts, brokers and journalists at the Dubai Financial Market, Emaar Chairman Mohamed Ali Alabbar said: “We saw remarkable growth during 2002, with annual revenue up 63 per cent to AED1.33 billion. Profits from operations grew 163 per cent and net profits recorded 51 per cent growth.

These annual results are significant because interest earned from fixed bank deposits fell 63 per cent on the year-earlier figure. Interest earned from fixed deposits in 2001 amounted to AED156 million compared with AED58 million in 2002. The Emaar Group, including fully owned subsidiaries Dubai Bank, Amlak Finance, Sahm Technologies and joint venture Emrill, sounded a buoyant on its outlook for 2003 and beyond.