Victoria 

Coles to Sell Target Centre, Bourke Street, Melbourne

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WESFARMERS owned retail giant, Coles Group, is expected to make about $100 million from the sale of a prominent Bourke Street retail complex in the Melbourne CBD.

Coles will sell the 1982 Target Centre building (pictured, right) with a 20 year lease to Target. The complex also includes speciality retail stores, currently leased to Jetstar and Monash University.

Coles is expected to spend funds raised from the sale into its supermarket operations.

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Victoria 

Coles, Toll Issue Major Industrial Lease Requirements, Melbourne

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TWO of Australia’s largest conglomerates have quietly circulated industrial leasing requirements seeking new, supersized Melbourne factories.

In the biggest tenancy request, the Wesfarmers owned Coles Group, from Perth, is looking for a purpose built office warehouse of close to 80,000 square metres – or almost the same size as the Rialto towers, by floor area.

Coles, which last month reported more than triple the quarterly sales growth of rival, Woolworths, will consider sites all over metropolitan Melbourne for its new major distribution centre.

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Brighton Beach
Victoria 

Coles Group Buys Piece of Major Brighton Mixed Use Village, Melbourne

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WESFARMERS owned Coles Group is speculated to be paying around $13 million for an as-yet-undeveloped, approximate 4200 square metre supermarket in the ritzy Bay Street, Brighton retail strip.

Sources say Coles is purchasing the space off ASX listed Abacus Property Group, which is proposing a mixed use village for the site on the south-west corner of Male Street.

The property, for a couple of years now a block of dirt behind a fence, was earmarked for a $38 million office and retail complex, however it’s understood a new complex with a residential component is now proposed.

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Victoria 

Coles Makes Major Purchase in Coburg

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COLES Group Property Developments is understood to have paid about $6 million for a major retail development site in Coburg.

The 1.75 hectare property at 180 – 196 Gaffney Street also has access to Sussex, Lens and Marion streets – making it a prime site for a mixed use project including apartments and offices, as well as a supermarket-based shopping centre.

The site is currently a collection of industrial warehouses spread across fifteen titles.

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National 

Coles, Woolies Fail to Reply to ACCC Questions

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SUPERMARKET giants Coles and Woolworths have not yet responded to the Australian Competition and Consumer Commission, regarding claims they restrict competition by blocking rival supermarkets opening nearby. The ACCC uncovered the potential breaches of the Trades Practices Act as part of the 2008 grocery inquiry.

Coles has not responded to repeated requests by the ACCC, while Woolworths is referring its question to the National Retailers Association, a Woolies spokeswoman telling the AFR “We’re not going to be commenting and we’re referring all comment to the retailers’ association…because this is regarding retailers’ leases and there are many retailers.”

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Victoria 

Salta to Reap About $32 Million From Coles Distribution Centre, Altona North

SALTA Properties is continuing to dispose of major properties, this time putting a massive 44,000 square metre Coles distribution facility up for sale.
 
The two year old Altona North building is leased to Coles until 2017, and is expected to sell for about $32 million, reflecting a 8.75 per cent yield, based on the building’s current annual rental income of $2.8 million.

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