Australian Real Estate News
A Woolworths leased supermarket in Leongatha, in Victoria’s South Gippsland, sold for $14.3 million at CBRE’s 10th Premium Property Portfolio Auction (PPPA) earlier this month. The 3143 square metre building occupies a 3267 sqm site with 142 car parks at 1-7 Peart Street. Returning annual rent of $761,000 the complex traded on low passing yield
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A Woolworths Metro convenience store at the foot of a modern apartment building, in St Kilda, has sold to a Sydney investor for about $8 million. The supermarket pays annual rent of about $467,000 for the 1574 square metre space at 64 Fitzroy Street. On that basis, the property is trading on c5.8 per cent
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A Singaporean investor is paying Woolworths $27.3 million for the recently constructed Banksia Grove shopping centre in Perth’s north. The 5721 square metre complex on a 2.5 hectare block at 103 Ghost Gum Boulevard, Banksia Grove, hit the market in February with c$35-million price hopes. The retail investment contains a 3850 sqm supermarket leased to
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Another Victorian supermarket-based shopping centre has sold, this time in Curlewis, about 17 kilometres east of Geelong. Bayview Central at 90 Centennial Boulevard was offered in March. It is understood to be selling for about $17 million. Offered by Woolworths, the asset returns annual rent of $1.15 million. A Woolworths supermarket is the anchor tenant
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Thirty Big W-occupied stores and two distribution centres will be shut by parent company Woolworths over the next three years. The industrial sites are in Monarto, south-east of Adelaide, which is expected to close in 2021, and in Warwick, in Queensland, in 2023. Details of which outlets will close have not yet been decided. Currently,
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Woolworths has leased a double-storey retail space within the landmark Queens Place apartment complex in the Melbourne CBD. Mooted to be Australia’s tallest twin-skyscraper complex when completed in 2020, the development will include two 80-storey towers at the top of town, staring down the Queen Victoria Market. Chinese developer 3L Alliance is building Queens Place
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Woolworths Limited is selling a strategic development site adjoining the proposed Mernda railway station in Melbourne’s north-east. The 26.4 hectare block, which incorporates the historic Mayfield Farm, is master-planned to become the Mernda Town Centre. Expected to trade for about $50 million, the property is being offered with plans to be replaced with a shopping
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Woolworths has sold two near new supermarkets in regional New South Wales for a total price of $45.7 million. The assets are selling on a blended yield of 5.7 per cent. Colliers International’s Lachlan MacGillivray, James Wilson and Alex James-Elliott marketed the assets which were both completed in 2016. The largest building by area is
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Woolworths has sold a retail complex in Perth’s outer northern suburb of Aveley for $27 million to a private investor. Woolworths Aveley (pictured top, left and bottom) is trading on a market yield of 5.8 per cent. Built in 2016, and with depreciation benefits, the asset was offered with a 12-year lease to Woolworths. Alcohol
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Woolworths has assigned the lease of a modern logistics factory in Melbourne – no longer required since the 2016 sale of its Home Timber & Hardware division to Metcash. Two tenants – JTC and Border Express will occupy the 27,900 square metre complex at 98-126 South Park Drive in Dandenong South (pictured, top). “This is
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Woolworths will lease what will be the largest supermarket in Melbourne’s Southbank precinct – within the $2.8 billion Melbourne Square project. The configuration of the store – across two levels – is a “first” for a major supermarket chain, according to the agent behind the deal, CRS Commercial principal of major projects, Myles Snow. The
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A NEWLY formed consortium including Woolworths and hotel industry veteran Arthur Laundy have made their first major property play in southern Sydney.
The consortium is reportedly paying $40 million for the Caringbah Inn, at 343 Port Hacking Road and a few kilometres from the bayside suburb of Cronulla.
The pub includes strong food and beverage earnings, poker machines, and a bottle shop which may be rebranded as Woolworths trademark Dan Murphys.
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AHEAD of the federal government introducing new gaming regulations, retail giant Woolworths is believed to be in discussions with a burgeoning pub operator, to own a joint venture portfolio which would give it control of even more pokie machines.
It’s reported Woolworths has approached one of New South Wales largest publicans, the Laundy Hotel Group, which owns about 47 hotels and is considering proceeding with a $330 million purchase of another 20 hotels being sold the National Leisure & Gaming and Redcape Property Fund.
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WOOLWORTHS has launched a campaign to sell 31 Australian shopping centres and three development sites.
Most of the centres are anchored by Woolworths, as service stations, supermarkets, Big W, BWS and Dan Murphy liquor outlets.
Twenty of the assets have been developed already. Another 11 are under construction and three are blocks of land with permits and Woolworth related lease agreements in place.
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RETAIL giant Woolworths has paid $21 million for two adjoining development sites in North Melbourne.
The sites are opposite a collection of high-rise commission flat towers, and are spread over two addresses:
• 2 – 24 Vaughan Terrace (3066 square metre site); and
• 101 – 117 Canning Street (5000 square metre site).
The sites were sold by interests associated with motorcycle retailer Peter Stevens.
Read moreAUSTRALIAN Leisure and Hospitality Group is reported to have paid $19 million for the St Albans Hotel in Melbourne’s west.
ALH, which is three quarter owned by Woolworths, is expanding its portfolio in light of new Victorian government requirements that a single operator owns no more than 35 per cent of the State’s gaming machines, by 2012. ALH, which owns more than that, is expected to sell off properties and machines within its portfolio, before that time.
Read moreSUPERMARKET giant Woolworths will try to sell more than $100 million in assets for sale, as it prepares to ramp up its resources for its new Australian hardware sector partnership with US-based Lowes Group.
Woolworths has listed for sale sell three shopping centres, including Sydney’s Thornleigh Marketplace and Pemulway Marketplace – expected to reap about $50 million combined – and one in Queensland’s Caloundra.
Read moreBUNNINGS, Mitre 10…or Woolworths?
The supermarket giant this week announced it entered into an equity agreement with US-based Lowe’s Companies Inc, to buy Australia’s second largest hardware retailer Danks Holdings, which controls brands like Thrifty Link and Home Hardware.
The move, which is subject to regulatory approval and a minimum 90 per cent acceptance from shareholders, will see Woolworths enter the lucrative Australian hardware sector.
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Woolworths has lodged plans to build a new supermarket and shopping centre on a prominent Phillip Island caravan park it bought as a development site about two years ago.
The Boomerang Caravan Park site at 121 Thompson Road in the island’s main township of Cowes, is expected to close in May 2011 when an existing lease arrangement between Woolworths and the park operator lapses.
Sources say the proposed new development will include a 3,200 square metre Safeway supermarket, and about nine specialty shops totaling 1,408 square metres. It’s understood the project could have an end value of more than $20 million, but this could not be confirmed with a Woolworths representative, who failed to return calls.
Supermarket giant Woolworths has emerged as the mystery buyer of the Highett Shopping Centre development site in Highett, about 17 kilometres south of Melbourne.
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