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

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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Coles Makes Major Purchase in Coburg

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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Coles Opens New $40 Million Supermarket on Former Royal Melbourne Showground Land, Ascot Vale

STATE Member for Melbourne Bronwyn Pike opened Coles new $40 million shopping centre on Saturday, built within the grounds of what was once the Royal Melbourne Showgrounds, in Melbourne’s inner north-west suburb of Ascot Vale.
The Showgrounds Village Shopping Centre includes a 3,650 square metre Coles “concept” supermarket, which uses approximately 15 per cent less energy than the average Coles store and produces a third less waste. 

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