challenger Archives - realestatesource

INVESTMENT manager Challenger has offloaded a major St Kilda Road tower in an $80 million deal.

The 10-level, 20,000 square metre A-grade office at #417 (pictured, right) has been purchased by syndicate Newmark Property Group, headed by ex Lend Lease and Mirvac executive Chris Langford and Simon Morris, previously director of the Peninsula Development Group.

The sale price represents a high yield of about 9 per cent. For years known as the Mobil building, 417 St Kilda Road includes Oracle and the Red Cross as major tenants.

Victoria

Wesfarmers To Unveil New Concept Store, Urban at Target, in Melbourne

June 21, 2011 Marc Pallisco challenger, chapel street, south yarra, South Yarra Retail Lease, Target, Urban by Target, Wesfarmers

WESFARMERS owned Target will open the first of its “small format store” in Melbourne, in September.

The new store, Urban by Target, will occupy 1000 square metres of space once occupied by Virgin Megastore at the prominent Jam Factory in South Yarra, owned by Challenger.

Wesfarmers, which also owns supermarket giant Coles, is looking to expand both its Urban by Target and Target Country divisions. It’s also planning more large-format Target stores.

Victoria

Challenger Buys 31 Queen Street, Melbourne, For $81 Million

March 5, 2011 Marc Pallisco challenger, FKP, Melbourne CBD office sale, Queen Street

CHALLENGER Diversified Property Group has paid $81 million for an A-grade office at 31 Queen Street in the Melbourne CBD.

The purchase price equates to a yield of 8.17 per cent. FKP sold the 27-level, 19460 square metre office.

A copy of Challenger’s statement about the transaction is copied below.

Victoria

Kraft Foods to Sublease Prominent Port Melbourne Office, Ahead of Move to South Wharf

November 30, 2009September 15, 2023 Marc Pallisco challenger, Kraft Foods, Melbourne suburban office lease, salta, South Wharf

THE outgoing Kraft Foods building – one of the inner-city’s largest standalone offices – is for rent.

The high-tech suburban headquarters – built for but never occupied by Boeing Industries ten years ago, measures 10,230 square metres and includes 360 car spaces.

The 187 Todd Road office is owned by Challenger which reportedly paid Salta $46 million for it, and a 12,000 square metre office warehouse at 300 Lorimer Street in 2002. Kraft is relocating to new offices at South Wharf.

Victoria

Andrew Myer to Reap $55 Million From The Well Shopping Centre, Camberwell

June 21, 2009 Marc Pallisco andrew myer, Camberwell, challenger, jam factory, shopping centre

ANDREW Myer has decided to sell his Camberwell shopping centre, The Well.

The son of late philanthropist Ken Myer and grandson of Myer department store founder Sidney Myer, can expect to make about $55 million for the 9,240 square metre centre.

The Well opened eight months ago and includes about 30 speciality shops, a 1,202 square metre JB Hi Fi and a 2,812 square metre Coles supermarket.