2 stories from 2 sources
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Hickory has been appointed by developer Hanave as builder for the Randle St Hotel project in Sydney’s Surry Hills, repurposing the former Henderson Hat Factory site. The appointment moves the boutique hotel redevelopment closer to construction and delivery.
6:27 PMPropertymarkets NewsOne of Australia’s largest pension funds is shifting from funding new build-to-rent projects to buying completed apartment blocks. It is betting that elevated construction costs and higher interest rates make new development returns too uncertain.
12:26 AMBloomberg MarketsSummary
Hickory has been appointed by developer Hanave as builder for the Randle St Hotel project in Sydney’s Surry Hills, repurposing the former Henderson Hat Factory site. The appointment moves the boutique hotel redevelopment closer to construction and delivery.
Why it matters
A named builder turns a well-watched inner-city hotel redevelopment from intent into a credible pipeline project, with implications for local supply, construction demand, and investor confidence.
Summary
One of Australia’s largest pension funds is shifting from funding new build-to-rent projects to buying completed apartment blocks. It is betting that elevated construction costs and higher interest rates make new development returns too uncertain.
Why it matters
If big funds prefer buying existing stock over building new, Australia’s housing supply response weakens even as demand stays high.
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