Austexx – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sat, 30 Oct 2010 04:17:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Austexx – realestatesource https://www.realestatesource.com.au 32 32 DFO Buyer Close https://www.realestatesource.com.au/dfo-buyer-close/ Tue, 11 May 2010 06:10:17 +0000 http://realestatesource.com.au/wordpress/dfo-buyer-close.html 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.
]]> According to The Australian which reported the Pradera speculation, DFO have an approximate 40 – 45 per cent of Australia’s direct factory outlets market.

Lend Lease and Colonial First State were also reported to have been in the mix of prospective purchasers for the DFO portfolio which was listed for sale earlier this year.

]]> Deka Immobilien Investment to Pay $118 Million For South Wharf Office, Melbourne https://www.realestatesource.com.au/deka-immobilien-investment-to-pay-118-million-for-south-wharf-office-melbourne/ Sat, 30 Oct 2010 04:17:16 +0000 http://realestatesource.com.au/wordpress/deka-immobilien-investment-to-pay-118-million-for-south-wharf-office-melbourne.html 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.
]]> Deka also owns the 15 William Street office building, according to a report in the AFR.

The sale is the latest in a string of major office sales in Melbourne to offshore interests.

RREEF Asia Pacific is in due diligence to buy 737 Bourke Street in Docklands for about $115 million. Hong Kong based CLSA Capital Partners paid $140 million for 485 La Trobe Street, while overseas developers have purchased several development sites capable of yielding major apartment towers, including one at the top of town offloaded by Solomon Lew.

]]> Austexx Sells South Wharf Office For $115 Million https://www.realestatesource.com.au/austexx-sells-south-wharf-office-for-115-million/ Thu, 13 May 2010 06:07:45 +0000 http://realestatesource.com.au/wordpress/austexx-sells-south-wharf-office-for-115-million.html 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.
]]> Austexx is directed by Melbourne businessmen David Goldberger and David Weiland.

Deka sold an $880 million portfolio in 2006, and the latest purchase marks a continuing return to the local market. Last year the group paid $167 million for 15 William Street, in the CBD, on an 8.75 per cent yield.

The yield for its latest South Wharf office, equates to about 7.9 per cent, based on the building’s annual net passing income of about $9.1 million.

European fund manager recently paid $76 million for a half interest at Myer’s new Docklands headquarters.

]]> DFO South Wharf Opens Today, as Outgoing Spencer DFO Converted to Mainstream Mall https://www.realestatesource.com.au/dfo-south-wharf-opens-today-as-outgoing-spencer-dfo-converted-to-mainstream-mall/ Wed, 14 Oct 2009 12:13:32 +0000 http://realestatesource.com.au/wordpress/dfo-south-wharf-opens-today-as-outgoing-spencer-dfo-converted-to-mainstream-mall.html 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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Austexx is also involved in a $1.4 billion joint venture to build a 5,000 seat convention centre and hotel, on the ex Mazda dealership site nearby.

A copy of the article posted last month, with more detail about South Wharf, is here:

http://www.realestatesource.com.au/dfo-south-wharf-melbourne-to-open-october-15.html

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