CFS to Sell North Sydney Office Building
COLONIAL First State is hoping to reap some $40 million from the sale of a North Sydney office building it
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Colonial First State
Colonial First State opens $185 Million Extension of its Chatswood Chase Centre, Sydney
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.
Read moreCFS Makes $14 Million From the Sale of Shops Abutting Forest Hill Chase, Melbourne
COLONIAL First State pocketed $14 million this week from the sale of a portfolio of shops opposite its sizeable Forest Hill Chase Shopping Centre in Melbourne’s east.
They Sydney-based developer and fund manager offloaded 18 of the 23 shops listed for sale, and after a campaign targeting mum and dad investors.
The sold shops range in size from 50 square metres to 500 square metres, and traded for between $350,000 and $2.5 million, and on yields of between 3.78 per cent and 8 per cent.
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Colonial First State to Sell Slither of Shops Alongside Forest Hill Chase SC
COLONIAL First State is selling a suburban shopping strip, next door to its massive Forest Hill Chase Shopping Centre, in Melbourne’s east.
The 23 shops, configured predominantly as single storey buildings, are leased to a total of 26 tenants including ANZ, H&R Block and Taco Bill.
The shops will be sold separately, and are expected to sell on yields of between 3 and 4 per cent, according to Gross Waddell selling agent Tim Darcy.
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