harvey norman – realestatesource https://www.realestatesource.com.au Commercial and residential property news Mon, 12 Sep 2011 10:00:54 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png harvey norman – realestatesource https://www.realestatesource.com.au 32 32 Gerry Harvey Buys Half Share of Adelaide Bulky Goods Complex https://www.realestatesource.com.au/gerry-harvey-buys-half-share-of-adelaide-bulky-goods-complex/ Fri, 01 Oct 2010 04:37:48 +0000 http://realestatesource.com.au/wordpress/gerry-harvey-buys-half-share-of-adelaide-bulky-goods-complex.html INTERESTS associated with retail mogul Gerry Harvey will pay $31.8 million for a half stake in an Adelaide bulky goods complex the Gepps Cross Centre.

Axiom Properties sold the asset, and will use funds to settle debt.
]]> Mr Harvey already owns a half share in one part of the Gepps Cross Centre, according to the AFR which reported the transaction.

]]> Springvale Homemaker Centre Opens, Melbourne https://www.realestatesource.com.au/springvale-homemaker-centre-opens-melbourne/ Mon, 12 Sep 2011 10:00:54 +0000 http://realestatesource.com.au/wordpress/springvale-homemaker-centre-opens-melbourne.html THE massive Springvale Homemaker Centre has opened in Melbourne’s outer-south east.

The 205,000 square metre (gross) complex, a joint venture between Harvey Norman and IKEA (Sweden) has been in the works since 2006.

The double storey complex and 2800 car parks (impression, right) is anchored by the two retailers: Harvey Norman occupies a 10,000 store, while IKEA will trade from a huge 36,000 square metre facility.

]]> Another 26 homemaker tenancies form part of the complex which was fast tracked by the former planning minister Justin Madden in early 2010.

Architects Leffler Simes managed the Springvale Homemaker Centre construction process including the initial design, town planning and documentation. The centre is located at 917 Princes Highway, on the south-east corner of Westall Road.

 

]]> Charter Hall Starts Marketing Townhouses at Former Nylex Mentone Site https://www.realestatesource.com.au/charter-hall-starts-marketing-townhouses-at-former-nylex-mentone-site/ Sun, 27 Jun 2010 13:36:23 +0000 http://realestatesource.com.au/wordpress/charter-hall-starts-marketing-townhouses-at-former-nylex-mentone-site.html CHARTER Hall is set to start building a $75 million housing estate on part of Nylex’s former industrial products manufacturing and distribution complex in Mentone, a site which it has snapped up in stages over the past four years.

In a trend that is seeing interstate builders increasingly look to Melbourne’s outer suburbs for opportunity, the Sydney-based developer plans to build 119 townhouses on the 3.3 hectare site at the south-west corner of Warrigal Road and Oak Avenue.

Construction of the project, to be known as Aquilo, is set to start within weeks. Marketing of the first townhouses, priced from just under half a million each, commences today.
]]> A joint venture between Charter Hall and retailer Harvey Norman purchased the 11.5 hectare Mentone property in 2006, shortly after Nylex announced it would shut the site and put 120 employees out of work.

Part of the site was subsequently rezoned and subdivided to create the Aquilo residential development. Charter Hall purchased the 3.3 hectare Aquilo site from the joint venture in December 2008.

All up, it’s been reported Charter Hall outlaid about $10 million for the Mentone site.

The property abuts a prominent bulky goods complex, which includes as tenants Bunnings, Retravision and Supercheap Auto.

Charter Hall joins a growing list of interstate based developers including Mirvac, Stockland, Sunland and Walker Corporation, building major projects in Melbourne’s outer suburbs.

Charter Hall is co-directed by David Harrison, who for several years before quitting agency in 2005 was considered Australia’s most successful commercial realtor, based on the value of sales transacted.

The group is considered underweight in Victorian assets, relative to its New South Wales and Queensland property portfolio. In Melbourne, Charter Hall controls the Home HQ complex in Nunawading and the first stage of the Lacrosse Apartments project in Docklands.

When the economic downturn took hold in late 2007 it was reported Charter Hall was in advanced negotiations to buy two prominent Melbourne sites: the South Wharf office building, in Docklands, and the outgoing GTV Nine studio in Richmond. Both deals fell over.

Charter Hall did however proceed with plans to buy ten Fosters properties with redevelopment potential in Abbotsford, with joint venture partner the Wyllie Group.

The consortium paid $41 million for the portfolio in late 2007. Charter Hall sold its half share to Wyllie in 2009 for $18.3 million.

]]> Australia’s Largest Homemaker Centre Set to be Developed in Springvale, Melbourne https://www.realestatesource.com.au/australias-largest-homemaker-centre-set-to-be-developed-in-springvale-melbourne/ Sun, 17 Jan 2010 02:45:27 +0000 http://realestatesource.com.au/wordpress/australias-largest-homemaker-centre-set-to-be-developed-in-springvale-melbourne.html AUSTRALIA’s biggest Homemaker Centre will be developed in the outer south-east suburb of Melbourne, not far from Autralia’s biggest shopping centre, Chadstone.

The 80,000 square metre $286 million facility will include about 20 stores including Melbourne’s second IKEA, and a Harvey Norman store.

The project was “called in” – effectively approved – by the Planning Minister Justin Madden last Friday, along with a 38-level apartment building and hotel in Box Hill, and another apartment tower in Southbank.

]]> Probuild will build the Springvale project, which is due for construction next year.

City of Greater Dandenong mayor Jim Memeti told Dandenong’s Star News the development would help foster business growth and development in the region, and also highlight business and employment opportunities available in the area.

]]> Ikea Might Open Store in Dandenong https://www.realestatesource.com.au/ikea-might-open-store-in-dandenong/ Mon, 29 Oct 2007 13:50:47 +0000 http://realestatesource.com.au/wordpress/ikea-might-open-store-in-dandenong.html Less than two years after closing its Nepean Highway Moorabbin store, Swedish-based furniture retailer Ikea is planning a return to the south-eastern suburbs.

]]> Local industry sources say Ikea is eyeing a high profile site on the corner of the Princes Highway and Westall Road in Springvale – which it could develop into a 32,000 square metre supersized showroom, its second in Melbourne.

Fellow retail heavyweight Harvey Norman owns the 8-hectare property at 917 Princes Highway, which was formerly used as a Telstra supply branch. It fought off fierce competition from developers paying what was, in 2004, considered a bullish price of $14.6 million for the property – $4.6 million more than vendor Folkestone paid for it six months earlier.

Harvey Norman plans to develop the property in stages, starting with a 37,000 square metre homemaker centre for approximately 16 big box retailers.

Last week however, it lodged a second application with the Greater Geelong City Council for a further 32,000 square metre facility. With only a handful of retail tenants requiring such quantities of space, the spotlight suddenly shone on Ikea.

An Ikea spokeswoman told Capital Gain the company is planning to open a new showroom in the south-eastern suburbs, but said nothing formal has been signed yet.

A spokesman for Harvey Norman declined to comment.

Local agents say the Harvey Norman owned centre, at one end a proposed arterial road that would connect the Monash Freeway to the Princes Highway, will eventually become one of the highest profile sites in the south-east. Despite its Springvale address, the site is on the cusp of Mulgrave, Clayton and Clayton South – opening it to an established retail catchment as well as new estates in the outer south-eastern suburbs.

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