Makris Group – realestatesource https://www.realestatesource.com.au Commercial and residential property news Mon, 18 Oct 2010 04:36:57 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Makris Group – realestatesource https://www.realestatesource.com.au 32 32 Makris Group Sells Two SA Shopping Centres For $41 Million https://www.realestatesource.com.au/makris-group-sells-two-sa-shopping-centres-for-41-million/ Mon, 18 Oct 2010 04:36:57 +0000 http://realestatesource.com.au/wordpress/makris-group-sells-two-sa-shopping-centres-for-41-million.html TWO South Australian shopping centres have sold for a total of just over $41 million.

The Avenues Shopping Centre in St Peters, north east of the city, sold for $23 million reflecting a yield of 7.4 per cent.

A second, smaller shopping centre - the Northgate Village Shopping Centre north east of the city, sold for $18.7 million on a yield of 7.2 per cent.
]]> Both assets were sold by Adelaide’s Makris family, who are upgrading their property portfolio, according to the AFR.

Makris Group chairman Con Makris said the company intended to dispose of smaller assets and focus on upgrading some larger centres, including the $100 million Endeavour Hills complex it required, near Dandenong in south-east Melbourne.

Makris also acquired the Bonnyrigg Plaza in Sydney, which like Endeavour Hills, also offers extension and redevelopment potential.

The group is also selling Optus House on King William Street in the Adelaide CBD, which has price expectations of about $40 million.

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