Australian Real Estate News
Logistics focused landlord and developer LOGOS Group has found an occupier to take all of a speculative 23,322 square metre facility it only completed construction of last month. efm Logistics Services will move into the Altona Logistics Estate warehouse mid-year. JLL’s Matt Ellis and Matt Crofts represented LOGOS Group, which is backed by, amongst others,
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Homewares retailer ISHKA was placed into voluntary administration today. Established in Melbourne’s Glen Iris 49 years ago – the family owned chain employs 500 people and trades from 60 stores. ISHKA owner Tony Darvall said the decision follows a “catastrophic Christmas and summer” of trade. “We realised everything wasn’t right, so we’ve been flat out
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Two months since Lachlan and Sarah Murdoch paid a record US$150 million for a Los Angeles home, Amazon founder Jeff Bezos has trumped them. The world’s richest person is paying film studio executive David Geffen a speculated US$165 million ($A244.8 million) for a 1263 square metre Georgian style mansion on a 3.6 hectare block in
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Hub Australia has leased its fourth Melbourne premises and eighth nationally. The co-work office provider has committed to space on levels two, three and seven at Dexus’ Ball and Welch development – a 20,000 square metre project incorporating a historic building at 180 Flinders Street, and 189 Flinders Lane, due for completion in six months.
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Designer and reality TV personality Alex Perry will close his fashion brand’s only Australian store next month. Mr Perry blamed a lack of foot traffic coupled with his booming online trade for calling time at Sydney’s The Strand Arcade – but isn’t ruling out opening an eponymous outlet again. Alex Perry stock retails at more
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Goodman Group and Canada Pension Plan Investment Board (CPP Investments) overnight committed equity of US$2.5 billion to its Goodman North American Partnership (GNAP). Established in August, 2012, with an initial investment of US$890 million – and now with assets under management valued at US$3 billion – the fund seeks to buy and build high quality
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Value Retail Group is selling the headquarters of its Best & Less discount fashion chain. In Leichhardt, five kilometres west of the Sydney CBD, the offering includes a four-level commercial building joined to warehouses. The asset is expected to sell for more than $25 million, according to this Daily Telegraph item. VRG is targeting investors
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Melbourne developer Fridcorp has snapped up the 50 per cent interest it didn’t control in a $700 million mixed use project in Sydney’s south, from Wingate. Beyond at 93 Forest Road, Hurstville, spreads a 1.4 hectare site and is set to include four residential towers, ranging in height from eight to 20 storeys, a Woolworths
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The four storey strata titled Abbotsford office upon which the iconic Skipping Girl neon sign was built in 1970 is for sale. Skipping Girl Place at 651 Victoria Street is expected to trade for more than $20 million to an investor, owner occupier or even developer which might consider utilising the airspace longer term. A
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Charter Hall Retail REIT has sold a shopping centre in the Western Australia top end town of Carnavon. The $16.1 million off-market deal for Carnavon Central is to an Adelaide based syndicate. At 35-55 Robinson Street, at the south west corner of Olivia Terrace and also with frontage to Alexandra Street, the neighbourhood complex is
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Aldi will offload $700 million worth of distribution centres on Australia’s east coast – with leasebacks. The four warehouses return annual rent totalling about $30 million. Sale proceeds will be used to fund the opening of more supermarkets, it is being reported. The Australian and AFR both broke news of the upcoming listing on Tuesday.
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NASDAQ listed LeMaitre Vascular – which manufactures artificial veins, a patented technology – has sold its Australian sales centre near the site taking shape as the Arden train station, part of the $11 billion Metro Tunnel project. The buyer outmuscled a mix of other owner occupiers, and investors, to secure 36-40 Munster Terrace for $2.701
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An unfinished mansion on an enormous pile in the heart of Toorak’s ritzy St Georges Road is quietly being marketed for sale with a guide price of $80 million, which would set a state record for a dwelling. The holding was acquired from former Hoyts boss Leon Fink by property developer David Yu of Ausvest
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Frasers Property Industrial has signed up Mazda Australia to be the first occupier at its 4Ten Epping industrial estate, in Melbourne’s north. Mazda has pre-committed to a 37,235 square metre facility which will be occupied as its national parts and distribution centre. Due for completion in December the property will include 960 sqm of office
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Virtus Property Group is paying $17.9 million for an industrial investment in Melbourne’s south east Clayton. The soon to be vacated property was sold by Reece Australia and its owners, the Wilson family, following an off-market deal negotiated by JLL. At 74-86 Garden Road, the asset includes a 10,857 square metre warehouse with clearance of
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GPT Group has spent $192.7 million on four Australian east coast industrial properties – three of them development sites. The purchases, part of plans by the listed giant to expand its logistics portfolio, include in Sydney’s west: A 33.4 hectare block at Kemp Creek, 39 kilometres from the CBD, and A 3.1 hectare site at
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Stomping Ground has opened Australia’s first airport brewery – and the fourth in the world – at Melbourne. The Collingwood based spirit maker has leased a 330 square metre space within Melbourne Airport’s Terminal 3. The occupier will produce 24 drought beers and six drought wines on-site. Tasting paddles and takeaway tinnies will also be
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Mirvac is acquiring as a development play the 2.9 hectare Willoughby site occupied by Nine Entertainment Limited. The holding was offered last April by Lotus Property Fund and Hong Kong based Euro Properties, shortly after approval was granted for a residential redevelopment with 460 dwellings (artist’s impression, top). At the time, the 24 Artarmon Road
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Ruyi Australia Group, the local arm of Chinese textile giant Ruyi Group, has listed Western Victorian country estate Larundel, south of Ballarat. Ruyi snapped up the 942 hectare holding in March, 2011, paying $13.07 million. Larundel had been on the market for two years – the asking price starting at $20 million before being reduced
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EXCLUSIVE Private investor Peter Hart – renowned in Melbourne property circles for proposing major skyscrapers on small plots – is buying the freehold of Collingwood bar and sex on premises venue Club 80. Mr Hart snapped up the property at 8-10 Peel Street less than a week after it hit the market in October, paying
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