Mair Property Funds spends $27.55 million on commercial real estate investments in Adelaide, Perth

Mair Property Funds (MPF) has spent $27.55 million on commercial assets in Adelaide and Perth – its fourth and fifth major real estate acquisition this year. With these deals, the 35-year old West Perth-based commercial property trust and managed funds group has assets under management valued at more than $260 million. It controls them via

Read more

APPF sells Westfield Marion half-stake to Singapore’s SPH REIT for $670 million – the year’s highest priced shopping centre deal

Lendlease-managed Australian Prime Property Fund (APPF) Retail has sold a half share of Adelaide’s Westfield Marion for $670 million – a 2.9 per cent discount to its 30 September, 2019, book value. The asset was expected to trade for about $740 million when it hit the market in April, which would have been about consistent

Read more

Moelis Australia sells Adelaide’s Hollywood Plaza Large Format Retail complex for $12.95 million

Moelis Australia Asset Management has sold a homemaker centre in Adelaide’s north. The Hollywood Plaza Large Format Retail complex is trading to a local private investor for $12.95 million. On a 3.7 hectare site at 155 Winzor Street, Salisbury Downs, the asset includes two buildings, with 8080 sqm of lettable area – fully leased, to

Read more

Blackstone sells Adelaide’s Rundle Place, lists Melbourne’s Brimbank Central

Blackstone is understood to be close to selling Adelaide’s Rundle Place shopping centre for close to $250 million. The private equity group has also listed for sale a suburban Melbourne shopping centre, Brimbank Central, which is speculated to be worth more than $170 million. According to this item in The Australian, funds manager AMP Capital

Read more

Third time lucky for Starwood Capital with $480 million bid for Australian Unity Office Fund

It may be third time lucky for Starwood Capital in its attempt to buy the Australian Unity Office Fund. Following failed bids in March and July, the US-based investment group is offering $2.95 per unit – equating to $480 million – for the fund which controls nine assets across the country. The latest offer represents

Read more

Cohen family banks $27.6 million selling portfolio of seven Godfreys-leased assets

Interests associated with the Cohen family, founders of vacuum cleaner chain, Godfreys, have pocketed $27.64 million from the sale of seven retail assets across Australia. The portfolio – shops predominantly tenanted by Godfreys – hit the market last month. Promoted as investments, with leases in place, some of the sites offered medium term and medium

Read more

New JV acquires logistics assets including c$50 million Siemens warehouse in Melbourne’s Bayswater

Singapore’s listed Straits Trading Company Limited has announced a joint venture partnership with Commercial & General to manage a portfolio of five Australian logistics assets worth a total of $130.5 million. Straits Trading subsidiary Straits Real Estate will hold an 80 per cent interest in the asset holding named ILP No 1 Trust. It will

Read more

Singapore’s Soilbuild REIT enters Australia with two acquisitions costing a total of $116.25 million

Perth-based Ascot Capital has sold a poultry plant in South Australia and an office building in the Australian Capital Territory for a total of $116.25 million. Both sites were purchased by Singapore-based Soilbuild REIT – which has established a wholly owned management investment trust called Soilbuild Australia for its maiden local purchases. Following these acquisitions,

Read more

Lend Lease Wins Contract to Redevelop Adelaide Oval

LEND Lease has been unveiled the preferred “proponent for construction work” for the Adelaide Oval redevelopment.

The Adelaide Oval Stadium Management Authority with the Department of Transport, Energy and Infrastructure selected Lend Lease and its subsidiary, Baulderstone to design and construct a new stadium with a 50,000 person capacity (image of proposal, right).

A copy of Lend Lease’s announcement is below:

Read more

IKEA Adelaide Airport For Sale, Expected to Fetch $50 Million

ADELAIDE’s IKEA store is for sale, with a price tag of some $50 million.

The store at 397 Sir Donald Bradman Drive at the Adelaide Airport is being offloaded by direct property fund LEX Retail Property Trust. Unit holders agreed to sell the asset at a meeting last October.

The asset includes 24,500 square metres of area over two levels. The complex was built in 2006 and also includes a cafeteria, office, warehouse, loading dock and car park.

Colliers International’s director of investment services Alistair Mackie is marketing the property, which is on a prime corner adjacent to Adelaide’s principal entry – a developing commercial, retail and industrial hub.

Read more

Defence Housing Australia Spends $150 Million Amassing Adelaide Streets

DEFENCE Housing Australia has spent more than $150 million on some 500 houses in Adelaide’s northern suburbs.

The properties have been acquired since 2008 and are concentrated in housing developments near Edinburgh including Playford Alive, Blakes Crossing and around Gawler (train station pictured, right).

DHA has purchased an entire street in the Playford Alive development at Munno Para West.

Read more

San Remo Pasta Pays $8 Million For Adelaide Industrial Property

PASTA manufacturer San Remo has paid just over $8 million for an industrial property in Dry Creek, in Adelaide’s north.

The deal is Adelaide’s largest industrial transaction for three years. The site was sold by pipe manufacturer Rocla.

It’s reported San Remo will redevelop the 5.8 hectare site after Rocla vacates after a short-term lease back.

Read more
error: Content is protected !!