Coles – realestatesource

SINGAPORE based private investor Philip Lim is understood to be the mystery buyer paying $89.2 million for an asset on the footsteps of the Bourke Street Mall.

The Target Centre, at 222 – 244 Bourke Street was listed for sale earlier this year by Wesfarmers controlled Coles Group.

The asset includes 10,077 square metres of retail space, and an 11,113 square metre office component. Tenants include Vintage Cellars, Gloria Jeans, Jetstar and Monash College but Target occupies the majority of the building which returns $6.4 million in annual rent, and is said to be selling on a yield of 7.2 per cent.

New South Wales

Colonial First State opens $185 Million Extension of its Chatswood Chase Centre, Sydney

November 30, 2009 Marc Pallisco Chatswood Chase, Coles, Colonial First State, Hardy Brothers, Sydney shopping centre news

COLONIAL First State last week opened a new 11,000 square metre, $185 million extension of its Chatswood Chase shopping centre in Sydney’s north.

The new 62,000 centre is now valued at about $700 million, and ranks among the top five shopping centres in the company’s portfolio, CFS fund manager Michael Gorman said.

The extension includes a new Coles, and upmarket retailers including Hardy Brothers jewellers, Saas & Bibe, Trenery (a Country Road offshoot) and Zimmerman.

Victoria

Coles to Sell Target Centre, Bourke Street, Melbourne

March 3, 2011 Marc Pallisco Bourke Street, Coles, Melbourne CBD retail sale

WESFARMERS owned retail giant, Coles Group, is expected to make about $100 million from the sale of a prominent Bourke Street retail complex in the Melbourne CBD.

Coles will sell the 1982 Target Centre building (pictured, right) with a 20 year lease to Target. The complex also includes speciality retail stores, currently leased to Jetstar and Monash University.

Coles is expected to spend funds raised from the sale into its supermarket operations.

Victoria

Coles, Toll Issue Major Industrial Lease Requirements, Melbourne

December 3, 2010 Marc Pallisco Coles, Melbourne Industrial, Melbourne Industrial Lease Requirement, Toll

TWO of Australia’s largest conglomerates have quietly circulated industrial leasing requirements seeking new, supersized Melbourne factories.

In the biggest tenancy request, the Wesfarmers owned Coles Group, from Perth, is looking for a purpose built office warehouse of close to 80,000 square metres – or almost the same size as the Rialto towers, by floor area.

Coles, which last month reported more than triple the quarterly sales growth of rival, Woolworths, will consider sites all over metropolitan Melbourne for its new major distribution centre.

Victoria

Coles Group Buys Piece of Major Brighton Mixed Use Village, Melbourne

September 21, 2010 Marc Pallisco Abacus, brighton, Coles, Wesfarmers

WESFARMERS owned Coles Group is speculated to be paying around $13 million for an as-yet-undeveloped, approximate 4200 square metre supermarket in the ritzy Bay Street, Brighton retail strip.

Sources say Coles is purchasing the space off ASX listed Abacus Property Group, which is proposing a mixed use village for the site on the south-west corner of Male Street.

The property, for a couple of years now a block of dirt behind a fence, was earmarked for a $38 million office and retail complex, however it’s understood a new complex with a residential component is now proposed.

Victoria

Coles Makes Major Purchase in Coburg

June 16, 2010 Marc Pallisco Coburg, Coles, Melbourne industrial sale

COLES Group Property Developments is understood to have paid about $6 million for a major retail development site in Coburg.

The 1.75 hectare property at 180 – 196 Gaffney Street also has access to Sussex, Lens and Marion streets – making it a prime site for a mixed use project including apartments and offices, as well as a supermarket-based shopping centre.

The site is currently a collection of industrial warehouses spread across fifteen titles.

Victoria

Major Retailers Commit to Grocon’s CUB Redevelopment, Melbourne

May 20, 2010 Marc Pallisco Coles, Dan Murphy, Dick Smith, Grocon, Kmart, Melbourne Retail Lease

RETAILERS Coles, Dan Murphy, Dick Smith and Kmart have been confirmed as leasing space at Grocon’s $600 million redevelopment of the CUB brewery site, at the suburb border of Carlton and the Melbourne CBD.

During the economic downturn, the developer announced it would redevelop the site into a predominanntly residential project – changes original plans, which were speculaetd to look more like QV, and include offices.

Four buildings within the first stage of the new development are expected to be marketed at the end of the year.

Victoria

Former Dance Mecca Bullring, Now a Supermarket, Sells For $15 Million

February 7, 2010 Marc Pallisco Bullring, Coles, Fitzroy, Johnston Street, Melbourne retail sale

THE office, retail and car park complex built on the site of Johnston Street’s former Bullring, in Fitzroy, is understood

Victoria

Woolworths, Ritchie’s Supermarkets Lodge Plans to Open in Phillip Island

July 26, 2009 Marc Pallisco Coles, regional property, Ritchies, Safeway, supermarket development, Woolworths

Woolworths has lodged plans to build a new supermarket and shopping centre on a prominent Phillip Island caravan park it bought as a development site about two years ago.

The Boomerang Caravan Park site at 121 Thompson Road in the island’s main township of Cowes, is expected to close in May 2011 when an existing lease arrangement between Woolworths and the park operator lapses.

Sources say the proposed new development will include a 3,200 square metre Safeway supermarket, and about nine specialty shops totaling 1,408 square metres. It’s understood the project could have an end value of more than $20 million, but this could not be confirmed with a Woolworths representative, who failed to return calls.