World’s first KFC drive-thru ‘only’ opens in Australia – bringing back the ‘Kentucky Fried Chicken’ brand

The world’s first KFC drive-thru only restaurant opened in the New South Wales regional town of Newcastle on Wednesday. Built on a site the business owns at 80 Lambton Road, Broadmeadow, the concept store is branded Kentucky Fried Chicken. This represents a marketing back-flip: the fast food chain renamed itself KFC globally about 30 years

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Martin Strode’s SMA Projects lists new Fitzroy supermarket built on the site of theatre The Star Lyric

Developer Martin Strode is selling the strata-titled supermarket on the ground floor of an apartment complex which has replaced 1910s art nouveau-style theatre The Star Lyric. The director of SMA Projects can expect more than $10 million from the disposal, according to sources. With 1402 square metres of retail space and 49 car parks, the

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Canterbury’s former Linley Clinic Private Hospital sells

The former Linley Clinic Private Hospital in Melbourne’s leafy Canterbury has sold for a speculated price of just under $6 million. The medical centre at 25 Bryson Street last traded in November 2017 for $6.5 million. Teska Carson marketing agents Adrian Boutsakis and Michael Ludski described the opportunity succinctly in their advertisements: a rare substantial

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Bill Shorten lists Moonee Ponds family home after buying in the same Travancore street as another former federal ALP leader

After failing in his bid at the May election to live at Canberra’s The Lodge, unionist turned politician Bill Shorten (pictured, top, with his second wife Chloe, and children) has spent $3 million on a house in Melbourne’s inner north west Travancore – a pocket within Ascot Vale. Interestingly, it is in the same street

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Stockland to co-develop $2 billion Truganina business park – the largest industrial project in Melbourne’s west

Stockland has teamed with Mt Atkinson Holdings – led by a consortium of Melbourne businessmen – to create a $2 billion commercial park, set to be the largest industrial project in that city’s west. It is hoped the 260 hectare site, 25 kilometres from the CBD, in Truganina, will also become the city’s largest and

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ESR and China Merchants Capital create $350 million Australian logistics investment arm

ESR Cayman Limited (ESR) has announced a deal with China Merchants Capital Investments Co Ltd (CMC) to seed a $350 million real estate platform focused on developing and owning Australian logistics investments. The new mandate will be known as the ESR Australia Logistics Trust (EALT). Hong Kong-headquartered ESR will half-fund EALT, using its existing balance

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Charter Hall PIF pays Viridian Glass $100 million for Dandenong South industrial investment

EXCLUSIVE Charter Hall is paying Viridian Glass $100 million for a major industrial investment in Melbourne’s Dandenong South. The sale and leaseback agreement was struck seven months after Viridian Glass listed its headquarters of more than six decades at 51-95 Greens Road. Covering a 20 hectare industrial zoned plot, the 77,124 square metre facility is

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Mair Property Funds spends $27.55 million on commercial real estate investments in Adelaide, Perth

Mair Property Funds (MPF) has spent $27.55 million on commercial assets in Adelaide and Perth – its fourth and fifth major real estate acquisition this year. With these deals, the 35-year old West Perth-based commercial property trust and managed funds group has assets under management valued at more than $260 million. It controls them via

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Stockland spends $121 million on neighbouring North Sydney offices to create super-site

Stockland is paying $121 million for two North Sydney offices adjacent to another it owns at 110 Walker Street (pictured, top). The acquisitions of 118 Walker Street and 122 Walker Street more than double the ASX-listed property giant’s landholding to nearly 2300 square metres. The developer said it plans to soon lodge an application to

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APPF sells Westfield Marion half-stake to Singapore’s SPH REIT for $670 million – the year’s highest priced shopping centre deal

Lendlease-managed Australian Prime Property Fund (APPF) Retail has sold a half share of Adelaide’s Westfield Marion for $670 million – a 2.9 per cent discount to its 30 September, 2019, book value. The asset was expected to trade for about $740 million when it hit the market in April, which would have been about consistent

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Vicinity banks $195.5 million selling Geelong and Brisbane retail assets

CBRE’s newest recruit, star agent Simon Rooney, will be writing up his first commission after selling two non-core retail assets for Vicinity Centres. Vicinity chief executive officer and managing director, Grant Kelly, said the disposal of the “non-core” Corio Central in Geelong, and a 25 per cent interest in the Mt Ommaney Centre in Brisbane,

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VCAT on the move with Court Services Victoria issuing a 20,000 square metre leasing requirement

EXCLUSIVE Court Services Victoria (CSV) has issued a major leasing requirement to relocate the Victorian Civil and Administrative Tribunal out of 55 King Street. Today, it has invited Requests of Information be submitted for the 20,000 square metre commitment. PwC Australia’s David McDougall, Ross Hamilton and Elizabeth Walsh are representing the state government. The tenancy

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Brendan Sullivan pays $17.8 million for mostly vacant inner south Melbourne office built by and for Lindsay Fox

Private investor Brendan Sullivan has purchased his second office in four months. At 1 Bowen Crescent in Melbourne, which is defined by the Property Council of Australia as being part of the St Kilda Road commercial precinct (and has a postcode of 3004, which is different to the city), the majority vacant asset is expected

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