IKEA Adelaide Airport For Sale, Expected to Fetch $50 Million

ADELAIDE’s IKEA store is for sale, with a price tag of some $50 million.

The store at 397 Sir Donald Bradman Drive at the Adelaide Airport is being offloaded by direct property fund LEX Retail Property Trust. Unit holders agreed to sell the asset at a meeting last October.

The asset includes 24,500 square metres of area over two levels. The complex was built in 2006 and also includes a cafeteria, office, warehouse, loading dock and car park.

Colliers International’s director of investment services Alistair Mackie is marketing the property, which is on a prime corner adjacent to Adelaide’s principal entry – a developing commercial, retail and industrial hub.

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Springvale Homemaker Centre Opens, Melbourne

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.

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IKEA to Open at Pipeworks Market Site, Campbellfield, Melbourne

VICTORIAN Planning Minister Justin Madden has approved a planning permit and rezoning of Campbellfield’s Pipeworks Market, paving the way for Swedish furniture giant IKEA to open a new store there.

The 41,000 square metre IKEA store will be the group’s biggest in Australia. It will replace Pipeworks address at 400 Mahoneys Road.

In Melbourne, IKEA also trades from Victoria Gardens in Richmond, and is building another store in Springvale, near a new, large Harvey Norman store.

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Australia’s Largest Homemaker Centre Set to be Developed in Springvale, Melbourne

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.

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