Vicinity Centres buys 50 per cent stake in Uni Hill Factory Outlets, now to be known as DFO, and sells half-share of Lennox Village

Vicinity Centres is paying MAB Corporation $67.8 million for a half share interest in the Uni Hill Factory Outlets complex in Melbourne’s Bundoora. MAB Corporation will retain the balance of the 11-year old centre, which was expanded in 2014. At 2 Janefield Drive, Uni Hill Factory Outlets contains 19,580 square metres of lettable area tenanted

Read more

Vicinity Centres sells Keilor shopping centre to Fort Street Real Estate Capital for $113 million

Vicinity Centres has sold a shopping centre in Melbourne’s north-west for $113 million following an off-market campaign. The Keilor Central Shopping Centre at 80 Taylors Road, Keilor Downs (pictured top and left), is being acquired by Walsh & Company Investments Limited, for the entity Fort Street Real Estate Capital IV (Fund). On a 9.1 hectare

Read more

Vicinity Centres banks $631 million from sale of 11 shopping centres across Australia

Vicinity Centres has sold 11 shopping centres spread across Victoria, New South Wales, Queensland and Western Australia, for a total of $631 million. One asset, the Belmont Village shopping centre in Geelong, and worth $58 million, sold in a deal which settled last month to a Sydney-based investor, the Geelong Advertiser reports. Ten more assets

Read more

Vicinity proposes $2b Box Hill redevelopment – including suburb’s tallest tower

Vicinity Centres has unveiled plans and lodged the first permit applications for a $2 billion mixed-use redevelopment of its prominent Box Hill Central sites, in Melbourne’s east. Affecting 5.5 hectares, the project will be identified by a 48-level tower, the suburb’s tallest, set to contain 366 flats, 7000 square metres of office area and ground

Read more

Collective Capital collects premium rent from ex-Dennis Family Homes HQ

Collective Capital, which last year picked up the former Dennis Family Homes headquarters in Malvern East as a permit-ready development opportunity – but instead renovated it – has signed two lease deals reflecting a 35 per cent rental uplift. The 203-207 Waverley Road office, still known as Dennis House, has commanded $370-380 per square metre,

Read more

Chadstone shopping centre set for $685 million expansion and renovation

Toorak businessman John Gandel and Vicinity Centres are set to expand and renovate their enormous Chadstone – the Fashion Capital retail complex, again. The $685 million proposal includes five key components. A nine-storey office estimated to be worth $130 million upon completion is one of them (artist’s impression, top). Earmarked for a site off Middle

Read more

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

Read more

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,

Read more

Vicinity to build Australia’s biggest eSports stadium at Melbourne’s Emporium

Vicinity Centres and Fortress Esports Pty Ltd will open a purpose-built electronic sports complex at the former’s Emporium Melbourne shopping centre. The double-storey space will contain more than 160 gaming PCs, console gaming suites, steamer pods, Role Playing Games and tabletop game play areas. It will also include function rooms, a full service restaurant and

Read more

Stockland sells Tooronga Village to Newmark Capital for c$64 million

EXCLUSIVE Stockland has sold shopping centre Tooronga Village, in Melbourne’s Glen Iris, for a speculated price of about $64 million. The buyer is Newmark Capital, which controls a large and diversified portfolio including South Yarra’s Como building and Jam Factory retail and entertainment complex. Last year, Newmark paid $135 million to Vicinity Centres and Telstra

Read more

Blackstone sells Adelaide’s Rundle Place, lists Melbourne’s Brimbank Central

Blackstone is understood to be close to selling Adelaide’s Rundle Place shopping centre for close to $250 million. The private equity group has also listed for sale a suburban Melbourne shopping centre, Brimbank Central, which is speculated to be worth more than $170 million. According to this item in The Australian, funds manager AMP Capital

Read more