EG sells Gold Coast’s Circle on Cavill to Macau’s Loi Keong Kuong for $61.8 million

EG has sold Gold Coast’s Circle on Cavill shopping centre to Macau businessman and casino mogul, Loi Keong Kuong, for $61.8 million. The off-market deal for the 12,364 square metre arcade on the lower levels of Sunland’s two-tower Circle on Cavill apartment development, was first mooted 12 months ago. JLL’s Jacob Swan and Sam Hatcher

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Pelligra Group spends c$70 million on distribution centres in Goulburn, Warwick

Pelligra Group has outlaid about $70 million on two regional distribution centres following an off-market deal. The most valuable facility, in Goulburn, New South Wales (pictured, right), is leased to Coles until 2022. At 134 Lillkar Road, the 16.25 hectare site includes a modern complex with a 42,500 sqm warehouse with 60 access points and

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Kaufland lists nine assets from its Australian development pipeline

A month after making the shock announcement that it wouldn’t open in Australia after four years of planning – German supermarket chain Kaufland has moved to sell nine sites from its substantial development pipeline. The “strategically located” properties, with various zonings, are speculated to trade for a total of about $250 million, but this could

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Tranche of 18 service stations net 7-Eleven owners $78.2 million

A portfolio of 18 7-Eleven outlets offered as sale and leaseback investments traded for $78.2 million to separate buyers at an auction event on Tuesday. The deal comes two months after the vendor – controlled by 7-Eleven’s Australian franchise owners, the Withers and Barlow families – banked $77.9 million selling 15 petrol stations, also with

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Aldi to sell $700 million worth of Australian east coast distribution centres

Aldi will offload $700 million worth of distribution centres on Australia’s east coast – with leasebacks. The four warehouses return annual rent totalling about $30 million. Sale proceeds will be used to fund the opening of more supermarkets, it is being reported. The Australian and AFR both broke news of the upcoming listing on Tuesday.

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Property Council of Australia 1H20 Office Market Report shows vacancy in Sydney, Melbourne, still tight

The Property Council of Australia released its twice annual Office Market Report today. The national stock comparison showed vacancy in Adelaide and Perth improved since the 2H19 (known in industry circles as ‘the July’) OMR. Melbourne’s CBD had he highest occupancy rate of any capital – at 96.8 per cent. The PCA said more than

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Withers family offers 18 more 7-Eleven service station investments

EXCLUSIVE The Withers family – which controls Australia’s 7-Eleven franchise – is offering another tranche of service stations via a sale and leaseback arrangement. The 18 properties, in the Australian Capital Territory, New South Wales, Queensland and Victoria, will be offered separately at a live-streamed auction event starting in Sydney, then moving to Melbourne, on

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China backed developer pays $26 million for Brisbane’s former Bradken foundry

Four months after ceasing operations on the site, global engineering business Bradken has sold a Runcorn foundry, in south Brisbane, for $26 million. The incoming owner, a Chinese backed local developer, is intending to replace the 16.2 hectare brownfield block with a master planned mixed use project following a rezoning. Bradken listed the site last

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Texas owner to close 19 Australian EB Games stores this month

The Dallas-based owner of video entertainment chain EB Games intends to close 19 of its 300-plus Australian stores by the end of the month. GameStop – the world’s biggest video game retailer – sent suppliers emails overnight confirming the news. Gaming website kotaku.com.au broke the story this morning, with this item. News of which stores

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Scape pays $2 billion for Urbanest’s Australian student accommodation portfolio

Scape Australia is paying $2 billion for a portfolio of student accommodation units in Sydney, Melbourne, Brisbane and Adelaide. The property deal with Urbanest – owned ultimately by the Washington Investment Board care of M3 Capital Partners’ Evergreen Real Estate – is Australia’s biggest this year. It comes less than three months since Scape Australia

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Investors spend $18.3 million on Australian childcare centres yesterday

Five Australian east coast childcare centre investments sold for a total of $18.311 million to separate buyers yesterday. The assets formed part of a portfolio of 16 properties which traded at a bulk auction event, held by Burgess Rawson at Melbourne’s Crown Casino. Most are exchanging on passing yields of between 5 and 7 per

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