Orchard to Sell Gold Coast’s Chevron Renaissance Shopping Centre

GOLD Coast’s Chevron Renaissance Shopping Centre (pictured, right) has been listed for sale.

The complex is expected to sell for about $79 million which would reflect a yield of about 9 per cent.

The 13,076 square metre centre has parking for 300 cars. It’s anchored by a Coles supermarket and two mini majors and also has space for 50 specialty stores. It also includes 18 office suites.

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Thakral Pulls Two Assets From the Market

THAKRAL Holdings has pulled two major assets from the market after they failed to generate buyer interest. The assets – the Sofitel Gold Coast and Oasis Shopping Centre – were expected to fetch about $200 million. Funds would have cut gearing and reinstated distribution. Managing director John Hudson is reported in the AFR as saying

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Cairns Central SC Expected to Fetch $450 Million

TWO of Australia’s biggest property players, Westfield Group and Lend Lease (which controls the Australian Prime Property Fund), are planning to sell the Cairns Central shopping centre they own together.

The complex was at the centre of a legal dispute that Westfield and Lend Lease eventually took to court.

It includes about 180 stores including major tenants Myer, Target, Coles, Bi-Lo (which like Coles is part of the Wesfarmers Group) and a Birch, Carroll and Coyle cinema.

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Village Fair SC, Queensland, Sells For $17.5 Million on 8.9 Per Cent Yield

QUEENSLAND’s Village Fair Shopping Centre, in Regents Park, sold today for $17.5 million.

The centre sold on a yield of 8.9 per cent, based on the annual rental of $1.55 million.

Village Fair includes a Supa IGA supermarket and 26 specialty stores.

A statement released by the selling gent this week is copied below:

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