Mirvac divests historic Tramsheds
Mirvac has sold Revelop the Tramsheds complex at Forest Lodge.
The price – about $52 million – is some 53 per cent premium to book value.
Revelop is expected to renovate the complex, built into the c1904 Rozelle Tramway Depot, on 2.3 hectares with 144 car parks at 1 Dalgal Way.
The 5973 square metre centre, with 18 specialty stores and an anchor tenancy occupied by supermarket Supamart, returns annual rent of $2.55m.
Mirvac is in the process of developing more than 1000 apartments around the asset, as part of its Harold Park project.
Last week the listed property giant banked another $52m selling the car park component of The Rocks’ Quay West building to Melbourne fund manager Wingate.
JLL’s Nick Willis and Sam Hatcher brokered the Tramsheds deal (story continues below).
Revelop snaps up another mall
Last September, Parramatta based Revelop acquired the West Place shopping centre in regional Victorian Churchill.
Two years ago the developer and investor paid Con Makris $35m for Adelaide’s Newton Village mall.
Forest Lodge is about four kilometres south west of the CBD.
Subscribe to our newsletter at the bottom of this page.
