Renewal SA purchases two Kaufland sites for affordable, social housing

Renewal SA has purchased two inner-Adelaide development sites from German retailer Kaufland. In Forestville (pictured, top) and Prospect, the government arm intends to over the next five years replace them with mixed-use but predominantly residential communities. About 482 dwellings are anticipated – some 150, or 30 per cent, allocated for affordable/social housing. Retail and commercial

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Abacus spends $8.6m on Cockburn Central self storage investment and development site

Abacus Property Group is spending $8.6 million on a self-storage investment in Perth’s south Cockburn Central. The 1.7 hectare property, 854 North Lake Road, was listed during COVID-19 conditions with JLL’s marketing agents saying they, the vendor and purchaser effectively worked from home to complete the deal. The asset contains four buildings with a total

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Elanor pays Vicinity wholesale fund $60m for Queanbeyan shopping centre

Elanor Investors Group today confirmed it acquired Queanbeyan’s Riverside Plaza for $60 million – describing the price as below replacement cost. The listed fund manager intends to develop surplus land and repurpose a one year old vacant Target tenancy for medical and health use. This would leave Coles the only anchor within the double storey,

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Sector sells Ringwood VicRoads testing centre for $9.3m, lists Huntingdale office/warehouse

Sector Property Group has sold a Ringwood office after snaring a pre-commitment from VicRoads. Under construction abutting Eastlink, 93A Heatherdale Road (artist’s impression, top) is trading to a Chinese buyer for $9.3 million following a deal negotiated by Savills’ Jesse Radisich and Benson Zhou. Based on the starting net rent ($469,580), the disposal was struck

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