Commercial and residential property news
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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OWNERSHIP of the $1.5 billion Direct Factory Outlet retail chain is set to change, after its two main backers, David Goldberger and David Weiland, reportedly “assess their holdings.”
The AFR reports the privately owned business wants “to attract new capital” to see it through the next phase of development. But if the price is right, the whole business could be sold outright, possibly to a larger shopping centre developer.
DFO was introduced in Australia 14 years ago in Moorabbin, and now includes eight centres, three homemaker centres and a potential premium shopping centre site, on the former DFO Spencer Street, in the Melbourne CBD.
Read moreAUSTEXX – 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The office was for sale at the peak of the property boom in 2007, but was withdrawn once the economic downturn took hold, while construction continued and the space was leased.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, 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.
Read moreTHE owners of discount outlet chain DFO have been revealed as the buyers of a prominent bulky goods development site near the massive Chadstone Shopping Centre.
Peninsula Development Group, a privately owned development company controlled by David Goldberger, Sam Fink and David Weiland is expected to develop a $20 million bulky goods shopping centre on the 675 Warrigal Road site, until recently home to chemical services company Clariant.
