Australian Real Estate News
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
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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
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A North Adelaide property said to have once been the family home of Rupert Murdoch (pictured, left) has hit the market. At 17 Tynte Street, about a kilometre from the Adelaide CBD, the dwelling, on a 480 square metre plot, is being marketed for the first time in 35 years by Fox Real Estate in
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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,
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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:
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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.
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.
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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.
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ADELAIDE’S Development Assessment Commission is reviewing an $80 million, 27-level office and hotel development in the Adelaide CBD. The tower (part artist impression, right) would be the city’s fourth highest. Designed by Adelaide group Dash Architects and proposed by the Toga Group of Companies, it’s feared the tower will overshadow a Flinders Street church. The
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TWO years after shutting its doors as a movie house, the historic Glenelg Cinema is set to be demolished and replaced as a small shopping complex.
The 1937 building at 119 Jetty Road (pictured, right) was the subject of an online petition by the Adelaide Chapter of the Art Deco and Modernism Society.
Small cinema crusaders, architecture groups and locals were hoping prominent developer owner Andrew Taplin could strike a deal with Wallis Cinemas for a joint venture, which would have seen the cinema renovated into a seven-screen complex. Its facade would have been retained.
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A TINY development site being marketed as “Adelaide’s smallest block” has hit the market, and is expected to sell for between $230,000 and $250,000.
The 90 square metre city block at 10 Hamilton Place (pictured, right) is the smallest for sale on Adelaide’s real estate market, at present, according to the selling agent.
At Hamilton Place, between Whitmore Square and South Terrace, the block could accommodate a multi-level home that would be larger than apartments being offered in the city, which average between $400,000 to $500,000 and measure less than 100 square metres.
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SOUTH Australia’s Masonic Homes is continuing its push into residential development, announcing a plan to spend $6 million adding more units to a senior housing project. The investment affects the Ridgehaven Rise Seniors Living Community business. It’s part of a plan by Masonic to invest $30 million this financial year on new development sites. The
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SOUTH Australia’s Cockatoo Ridge Winery has sold for $3 million. The 12.8 hectare winery is in Riverland, reportedly Australia’s largest wine grape producing region. Cockatoo Ridge includes offices, a tasting room, laboratory and storage facility. Colliers International marketed the processing facility.
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LAND Management Corporation, controlled by the South Australian government, has released for sale a 200 hectare site at Blakeview, in Adelaide’s north.
Minister Patrick Conlon said the land release will help meet continued demand for allotments. It’s expected to be redeveloped into 3000 homes.
Below is a copy of the government’s press release, regarding the land sale.
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INTERESTS associated with retail mogul Gerry Harvey will pay $31.8 million for a half stake in an Adelaide bulky goods complex the Gepps Cross Centre.
Axiom Properties sold the asset, and will use funds to settle debt.
Read moreQUEENSLAND based builder Watpac has won a $1.4 million contract to develop South Australia’s Piazza della Valle in the McLaren Vale precinct.
The builder released a statement about the development, copied below.
It involves rebuilding an old car park into a community space.
TWO South Australian shopping centres have sold for a total of just over $41 million.
The Avenues Shopping Centre in St Peters, north east of the city, sold for $23 million reflecting a yield of 7.4 per cent.
A second, smaller shopping centre – the Northgate Village Shopping Centre north east of the city, sold for $18.7 million on a yield of 7.2 per cent.
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SOUTH Australia’s government is calling for concept plans to redevelop the Adelaide Convention Centre.
The government is looking for architectural, engineering and project management organisations to enliven the Riverbank precinct, the Festival Centre, Sky City Casino, the Intercontintal Hotel and Adelaide Oval.
The development consortium will build a 4200 square metre multi-purpose space, and replace an original building with a facility seating up to 3000.
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ADELAIDE’s prominent 1 King William Street office has sold for $38.64 million.
A release by the selling agents, Colliers International and 333 Real Estate, is copied below, with some details.
The property sold on a yield of 9.5 per cent, based on the $3.685 million net passing income.
Read moreA NEW $200 million office building will be developed in Adelaide, after the Australian Taxation Office agreed to be anchor tenant.
The ATO, which also recently anchor tenanted a Melbourne building some say it didn’t need, will occupy 30,000 square metres of a building at Franklin Street, being developed by Western Australian based Aspen Group.
Aspen’s Tower 8 project will be bound by Waymouth, King William Flinders and Bentham streets, according to Adelaide Now, which announced the deal yesterday.
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