THE SHOPPING Centre, at 136 The Avenue, in Sunshine West, Melbourne, sold to a high net worth private investor for $4.95 million. On a 13,340 square metre block, and with 3997 square metres of lettable retail area, the sale price reflects a yield of 9.6 per cent. Anchor tenant Coles contributes to the majority ofRead more
CENTRO Properties Group is expected to list for sale a $4 billion portfolio of prime retail assets, as its bankers call for the company to settle its debts.
It’s expected Perth’s Galleria complex, and The Glen, in the south-east Melbourne suburb of Glen Waverley will be two of the 40-plus assets offered for sale.
Lend Lease, Colonial First State Global Management and AMP Capital Investors are expected to be in the mix of prospective purchasers, though the sale might also be on an individual shopping centre basis.Read more
A near-new, neighbourhood shopping centre on a massive 9.3 hectare site, most of which can’t be redeveloped, sold for $8.4 million last month to a local private investor.
The Yarra Glen Shopping Centre (aerial, right) was one of several Mortgagee Sale campaigns offered last year. A supermarket – leased to Ritchies Supa IGA until 2028 – fills 70 per cent of the 3747 square metre complex which also includes 11 specialty stores.Read more
SYDNEY-based billionaire property developer Lang Walker is hoping to achieve about $200 million from the sale of a near new shopping centre, in a near-new suburb, in Melbourne’s west.
Funds from the sale of the Point Cook Town Centre will go toward funding the development of Australia’s largest single office development – Collins Square, in Docklands.
Collins Square will include five office buildings, flanked by a lower level shopping centre, exploiting the 200 metre frontage of Mr Walker’s Docklands site. All up the project is expected to add 185,000 square metres of high end office space to the Melbourne market.Read more
IT was one of the highest profile commercial properties to hit the market during the economic downturn, but with the market improving, Sydney-based fund manager Challenger has decided to hold on to the Jam Factory. The prominent Chapel Street site, with street frontage to Garden and Palermo streets, in South Yarra, was in 2008 agoRead more