Vicinity Centres buys 50 per cent stake in Uni Hill Factory Outlets, now to be known as DFO, and sells half-share of Lennox Village

Vicinity Centres is paying MAB Corporation $67.8 million for a half share interest in the Uni Hill Factory Outlets complex in Melbourne’s Bundoora. MAB Corporation will retain the balance of the 11-year old centre, which was expanded in 2014. At 2 Janefield Drive, Uni Hill Factory Outlets contains 19,580 square metres of lettable area tenanted

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Timezone, Kingpin owner TEEG opens 300th venue with plans for 50 more next year

The Entertainment & Education Group (TEEG) – the largest operator of family entertainment venues in the Asia Pacific – has opened its 300th venue, a Kingpin, at Canberra’s Civic shopping centre. Moreover TEEG – which also owns Timezone and Zone Bowling – intends to trade from 50 more outlets in 2020. The Singapore based company

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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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Lachlan and Sarah Murdoch buy ‘The Beverly Hillbillies’ mansion for US$150 million – a California record

Fox Corporation chief executive officer Lachlan Murdoch and his wife, Sarah, are paying a speculated US$150 million ($A218 million) for the Bel Air estate beamed on television between 1962 and 1971 as The Beverly Hillbillies mansion – occupied by the fictional Clampett family. The price smashes the record for a California home set earlier this

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