Charter Hall Retail REIT sells five east coast investments – three to Lascorp

Melbourne-based specialist retail investor and developer Lascorp is paying Charter Hall Retail Management Limited, as responsible entity for Charter Hall Retail REIT (CQR), $62.35 million for three regional Victorian supermarket-based assets. The centres form part of a portfolio of five properties CQR has just sold off-market to fund the recent $840 million purchase of a

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South Melbourne office asking $6.8 million two months ago sells at auction for $8.6 million

A South Melbourne office for sale two months ago asking $6.8 million traded on Thursday for $8.55 million after newly appointed agents instructed an auction campaign. Seven bidders – a mix of international, interstate and local developers, contested for 67-69 Palmerston Crescent before a crowd of more than a hundred. Currently configured as a double storey commercial building with 750

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University of Melbourne pays Australian Red Cross c$46 million for Carlton offices

The University of Melbourne outbid 17 groups – a mix including private and institutional heavyweights – to acquire two neighbouring Carlton offices near its Grattan Street entrance. Opposite Lincoln Square, vendor Australian Red Cross was expecting to reap about $40 million from the disposal. Instead, it is banking a speculated $46 million – a price

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Winning Group pre-commits to ISPT’s Portlink Logistics Estate in Altona North

Industry Superannuation Property Trust has pre-committed Sydney-based retailer Winning Group – which owns popular website appliancesonline.com.au – to what will be a purpose-built warehouse and distribution centre, in Melbourne’s west. Winning Group intends to move into the 45,000 square metre Altona North facility in 2021. It’s initial lease term is 10 years. The development will

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Seven hectare Taylors Lakes site opposite Calder Park sells for c$5.5 million

A prominent seven hectare Calder Highway site – marketed as the last major building block in Melbourne’s Taylors Lakes – has sold for a speculated $5.5 million. The incoming owner, a local developer, intends to build a mixed-use predominantly commercial project on the parcel at the northernmost tip of the suburb, opposite Calder Park, Organ

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Vantage pays $58 million for St Kilda Road office with 35 per cent vacancy

Vantage Property Investments has acquired a largely vacant office at 574 St Kilda Road as a strategic play. The off-market $58 million deal was struck with SHL Nominees, controlled by members of Melbourne’s Lederman family which owns a substantial local property portfolio. Vantage PI managing director Matt Spring said its latest investment, acquired for a

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Adairs rents Supercheap Auto’s recently vacated Waurn Ponds showroom

Adairs – which earlier this month had a share price boost following its $A76.2 million acquisition of New Zealand children’s furnishings retailer, Mocka – is expanding in Geelong. The Australian speciality home retailer is renting all of the 697 square metre showroom at Waurn Ponds’ Geelong Homemaker Centre which was recently vacated by Supercheap Auto.

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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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Chinese developer pays $5.51 million for row of three Richmond shops

A row of three shops in Melbourne’s inner east Richmond, has been snapped up by a Chinese developer for $5.51 million. The holding, 255-259 Bridge Road, sits between the near-new 10-storey Ark apartment complex and the Richmond Plaza, which is the subject of a major mixed-use, residential-based redevelopment. Steveway agents Steven Pantelios, Andrew Kolovos and

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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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The Straits Trading Company pays ESR $24 million for Mulgrave business park

Singapore’s listed The Straits Trading Company is paying Hong Kong based global logistics giant ESR $24 million for a Mulgrave business park. The 2.25 hectare L-shaped holding at 677 Springvale Road hit the market in July. It includes seven contemporary buildings with a total lettable area of 12,157 square metres, configured as office warehouses and

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Caltex sells portfolio of 25 service stations for $136 million, or $92 million after costs

Caltex – whose management last week rejected a takeover bid from Quebec’s Alimentation Couche-Tard, saying the $A34.50 per share offer under-valued the company – has sold a portfolio of 25 Australian service stations, for $136 million. The sites were identified as having a highest-and-best use outside of selling petrol. Targeted to residential developers, the properties

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Sector Property Group to bring inner-city glam to one of Huntingdale’s largest commercial sites

Sector Property Group has snapped up one of Huntingdale’s biggest commercial sites with plans to create a premium quality office and warehouse complex, which will be subdivided and offered for sale or lease. The first pieces of the former Acoustic Engineering Services (AES) headquarters at 26-28 Hargreaves Street – two large and high-quality warehouses –

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The Block producer Julian Cress pockets $1.71 million from adjoining Gatwick apartment shells

One buyer has snared two adjoining apartment shells on the ground floor of St Kilda’s Gatwick Private Hotel – the subject of last year’s reality renovation television series, The Block. The $1.71 million deal was struck after a public auction on Saturday where the two unrenovated flats passed in for $1.62 million. When the units

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