Charter Hall pre-commits Coles to Melbourne and Sydney fulfilment centres

Coles Group has pre-committed to two high-tech distribution centres at Charter Hall Prime Industrial Fund (CPIF) owned estates in Melbourne and Sydney. The agreements, for a combined lettable area of 60,000 square metres, come six months after Charter Hall Group reset and extended leases to the same tenant, affecting Adelaide and Perth warehouses measuring a

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Coles sells West Ryde CBD supermarket with a leaseback for $23.85 million

Coles Group Property Developments has sold another supermarket with a leaseback, this time in Sydney’s West Ryde CBD. A Victorian private investor is paying $23.85 million for the stratum-titled Coles West Ryde complex. Based on the asset’s annual rental return ($1.395 million), the deal is being struck on a 5.85 per cent passing yield. Coles

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Charter Hall resets leases with Coles for distribution centres in Adelaide, Perth

EXCLUSIVE In a surprise and strategic move, Charter Hall Group and Coles have extended tenancy terms for major distribution centres in Adelaide and Perth. The 15-year deals, which kick in on January 1, 2020, will see the leases for both properties expire at the same time, in December, 2034. Coles’ rental agreement at Adelaide was

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Coles sells former Gardenvale car yard to developer

EXCLUSIVE Coles has successfully auctioned a high-profile former used car dealership in Melbourne’s Gardenvale. A developer fought three underbidders to snare 203-207 Nepean Highway, paying $3.65 million. The purchaser plans to owner-occupy part of a mixed-use project now set to replace the 1123 square metre holding. Zoned Commercial 1, a variety of development outcomes can

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Dexus signs lease deals with Dunlop, Coles and Secon, in Melbourne

Dexus has secured three major tenants at is Foundation industrial estate in Truganina, west of Melbourne. Dunlop Flooring has leased a 9100 square metre property under construction at 380 Dohertys Road, which it will occupy as its headquarters and national distribution centre. This building will also contain a showroom. Supermarket giant Coles meanwhile, will occupy

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Coles buys Surrey Hills property, opens it as nation’s first “small format” store

A Coles Local concept store more than two years in the making opened this week in Melbourne’s Surrey Hills. The supermarket’s first “small format store” (pictured, top) is trading at 126-138 Union Road, beside the Surrey Hills train station. Coles is owner-occupying the outlet after acquiring it for an undisclosed sum. The 1860 square metre

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Coles to Sell Target Centre, Bourke Street, Melbourne

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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Coles, Toll Issue Major Industrial Lease Requirements, Melbourne

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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