DFO Buyer Close

THE hugely successful Direct Factory Outlets property portfolio looks likely to be heading overseas, with British Based Pradera Asset Management reportedly the frontrunner to buy the assets.

It’s believed the group  will pay more than $1.2 billion for DFO’s eight centres.

DFO is owned by Austexx, a company directed by Melbourne businessman David Goldberger and David Weiland, which develops and owns commercial and to a lesser extent residential property assets.

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Deka Immobilien Investment to Pay $118 Million For South Wharf Office, Melbourne

GERMAN pension fund Deka Immobilien Investment is reportedly paying $118 million for the South Wharf Commercial tower in Docklands.

The sale, reflecting a yield of about 7.75 per cent, ends a saga to sell the office that has lingered since just before the economic downturn, in late 2007.

The office is part of the $750 million South Wharf precinct which also includes retail, residential and a hotel component. The office was sold by private developer Austexx, which owns the DFO chain, which is also for sale.

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Austexx Sells South Wharf Office For $115 Million

AUSTEXX – the owner of the $1.5 billion DFO retail chain – has offloaded an office building in Melbourne’s frantic South Wharf precinct.

German fund Deka Immobilien Investment is reported to be paying about $115 million for the 12-level office, home to Kraft, Baulderstone and shipping giant ANL.

The office was for sale at the peak of the property boom in 2007, but was withdrawn once the economic downturn took hold, while construction continued and the space was leased.

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DFO South Wharf Opens Today, as Outgoing Spencer DFO Converted to Mainstream Mall

DFODFO South Wharf opens today, on the same day the outgoing Spencer Street DFO will be converted into a mainstream shopping centre.

Confirming the worst kept secret in Melbourne property circles, developer Austexx will relocate the popular discount arcade to its new $750 million South Wharf develpment, on the banks of the Yarra River in Southbank, just south of the Docklands border over the Charles Grimes Bridge.

The 60,000 square metre complex includes a 25,000 square metre DFO, homemaker centre, and a leisure and lifestyle area. The wider South Wharf development also includes a Hilton Hotel, and office building.

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