Winning Group expands at ISPT’s Charles Sturt Industrial Estate

Winning Group has expanded in Adelaide, taking space within ISPT’s Charles Sturt Industrial Estate in Woodville. The online appliance retailer has committed to 7300 square metres being Building 21.2, 20 Cheltenham Parade. The 23.2 hectare business park is at 853-867 Port Road, eight kilometres north west of the city. So far it contains 55,329 sqm

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Cromwell sells Direk distribution centre for $63.05m – 19pc over book value

Cromwell Funds Management, on behalf of the Cromwell Property Trust T12, has sold a seven year old cold storage investment in South Australia’s Direk, to New York based investment bank Moelis. The Rand Transport Distribution Centre is trading for $63.05 million – or 18.96 per cent over book value. The vendor acquired 26-34 Caribou Drive,

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Con Makris to bank $200m from City Cross, North Adelaide Village

South Australia’s wealthiest person, Con Makris, is selling two Adelaide shopping centres. Via Makris Group, the Greek Australian property developer and investor is expecting about $200 million from the deals. The listings come five months after the businessman offloaded another retail investment, Newton Village, 11 kilometres north east of the city, for c$35m to Parramatta-based

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Renewal SA seeks partner for Entrepreneur and Innovation Centre at Lot Fourteen

Renewal SA is seeking a development and investment partner to replace part of the seven hectare former Royal Adelaide Hospital with a c16-storey, 35,000 square metre mixed-use commercial building to be known as the Entrepreneur and Innovation Centre (EIC). The tower is anticipated to be the flagship of the innovation precinct known as Lot Fourteen

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O-I Australia sells Charter Hall three warehouse investments for $214m

Owens-Illinois Australia has offloaded three warehouses with long leases to Charter Hall funds for a total of $214 million. The deal comes a day after it was reported the glass maker’s local and New Zealand businesses sold to Visy for $733m. The vendor, which as part of that agreement retained the properties, then campaigned them

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Con Makris banks c$35 million selling Adelaide’s Newton Village Shopping Centre to Revelop

Parramatta based Revelop – a boutique developer and investor directed by Charbel Hazzouri and Anthony El-Hazouri – is paying one of Australia’s richest men a speculated $35 million for an Adelaide mall. Con Makris sold Newton Village Shopping Centre following an off-market campaign managed by Savills’ Rino Carpinelli and Ryan Mills. The brokers said the

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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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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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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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Centuria spends $236.2 million on Arnott’s factories in Brisbane and Adelaide

Centuria Industrial REIT (CIP) is paying $236.2 million for two Arnott’s factories, in Brisbane and Adelaide. The sale-and-leaseback agreements come five months after the biscuit maker was acquired by US-based global investment house KKR in a $3.14 billion deal. KKR immediately appointed UBS and CBRE to sell three of Arnott’s owner-occupied properties. With a total

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ICD Property to build 35-storey tower as part of $400 million Central Market Arcade redevelopment

City of Adelaide has appointed ICD Property as partner for the $400 million Central Market Arcade redevelopment. Council held a two year long global expressions of interest campaign before appointing the Melbourne-based builder. The Adelaide CBD project will include a 35-storey tower with retail and residential components. Two office buildings, of 13 and 16 levels,

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Centuria buys Edinburgh logistics facility for $19.5 million

Centuria Industrial REIT (CIP) has settled on the $19.5 million purchase of an Adelaide logistics facility. The 6.5 hectare property at 32-54 Karuna Avenue, Edinburgh, sold following an off-market campaign managed by CBRE’s Jordan Kies, Craig Klemich and Chris O’Brien. Centuria Property Funds No 2 Limited (CPF2L) – CIP’s responsible entity, announced the deal in

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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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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

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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

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