Windsor Train Station Refurbishment May Add More Shops to Chapel Street
PLANS to build a large concrete ceiling above the Windsor train station underpass, which would act as a floor to
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Ownership of $1.5 Billion DFO Retail Chain to Change
OWNERSHIP of the $1.5 billion Direct Factory Outlet retail chain is set to change, after its two main backers, David Goldberger and David Weiland, reportedly “assess their holdings.”
The AFR reports the privately owned business wants “to attract new capital” to see it through the next phase of development. But if the price is right, the whole business could be sold outright, possibly to a larger shopping centre developer.
DFO was introduced in Australia 14 years ago in Moorabbin, and now includes eight centres, three homemaker centres and a potential premium shopping centre site, on the former DFO Spencer Street, in the Melbourne CBD.
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Ben & Jerry’s Coming to Australia
ETHICAL ice-cream giant Ben & Jerry’s will open its first Australian store in Sydney next month, with plans to have its products available nationally over the next two years.
The 31-year old company will team with Mission Australia to provide training and jobs for prospective employees, and will donate all proceeds from locally developed ice cream flavours to the charity.
Ben & Jerry products are initially expected to appear in about 200 selected delicatessans in Sydney and Melbourne.
Read moreANZ Makes $81.5 Million From Sale of 47 National Branches
ANZ executives were laughing all the way to the bank this week, after a portfolio of 47 national ANZ Bank outlets sold for a combined total of $81.53 million.
Read moreOmni to Build Bulky Goods Centre and Gynmasium in Carnegie
DEVELOPER preparedness to construct property without a tenant pre-commitment is spilling into the retail sector, with middleweight developer Omni Property Group this week announcing plans to speculatively develop a bulky goods showroom and gymnasium in Carnegie.
Read moreInstitutions Dominate Shopping Centre Sales
INSTITUTIONS bought half the shopping centres put to the Melbourne market in 2006-07, up from a third of centres bought in 2005-06.
Read moreSingaporean Investor Buys Centre Way Building on Collins Street for $34.1 Million
A Singaporean investor has paid $34.1 million on a low passing yield of 5.5% for the Centre Way building on
Read moreBaker Group Buys South Yarra Car Wash
Private investment company The Baker Group has paid $4.15 million for a busy car wash in Punt Road South Yarra.
Read moreTwo Service Station Sites Sell
Two service station in Melbourne’s eastern suburbs have sold in deals worth more than $9 million.
Read moreCoburg Site to be Developed into Home Maker Centre
The former Lincoln Mills industrial site in Coburg is to be redeveloped into a $20 million homemaker centre.
Read moreRussell Street Shops Sells on Record Low Yield
A Russell Street shop has sold on a reportedly record low yield of 1.85 per cent.
Read moreLast of Westpoint’s Assets Sell
The last property asset of failed developer Westpoint is believed to have sold to local private investor Harry Chua for $2.7 million.
Read moreFord’s Geelong Engine Plant Could Fetch $20 Million
Ford Motor Company Australia’s engine plant could fetch around $20 million as a retail development site.
Read moreHotels Feel Pinch of Smoking Bans
Revenue generated by licensed pubs, hotels and entertainment venues following the introduction of indoor smoking bans has dropped between 6 to 8 per cent, in the first weeks following its July 1 introduction.
Read morePrivate Investor Spending Splurge
Private investors spent more than $12 million in Melbourne’s inner eastern suburbs this week, buying retail showrooms, office buildings and development sites.
Read moreBendigo Supermarket Sells
A private investor has paid a low “Melbourne-like yield” for a 3,000 square metre Coles supermarket in the regional town of Bendigo.
Read moreShopping Centre Owners Slow to Adopt Green Initiatives
Shopping centre owners aren’t acting fast enough to reduce the environmental impact of their properties, because there is no financial incentive for them to do so.
Read morePace Developments Buys Modialloc Development Site
Melbourne based developer Pace Developments is tipped to be the mystery buyer of a prime retail development site in Mordialloc’s main shopping strip, in a deal worth $5.73 million.
Read moreErdigroup Pays $18.25 Million For St Kilda’s Marque Hotel
Private investor the Erdigroup has paid $18.25 million for St Kilda’s Marque Hotel, on Fitzroy Street.
Read moreHawthorn Volkswagen Snapped up by Private Investor
It’s not unusual for Volkswagen dealers to see the odd millionaire walk through its showrooms. But few could have imagined the sheer net worth of investors “tyre kicking” its Hawthorn dealership, which was recently put to the market.
Read moreSt Kilda’s Westbeach Bathers Pavilion to Reopen
HAVING been saved from possible demolition about seven years ago, St Kilda’s Westbeach Bathers Pavilion will re-open next month as a high end café, restaurant and function centre.
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The formerly rundown 800 square metre building at 330 Beaconsfield Parade, on the corner of Pier Road has been restored by a development consortium including kite boarding property developers Katani, in association with the City of Port Phillip.
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Interiors within the 81-year old building have been refitted in a 1920s theme, and the redevelopment includes a new deck opening out to the beach.
Major Development Mooted Opposite Balwyn Theatre
THE Victorian Civil and Administrative Tribunal has approved a major mixed use development, for a site opposite the popular Balwyn Theatre.
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The owner of the 188 Whitehorse Road Balwyn site, represented by town planner Urbis JHD, plans to build a 3-storey building comprising a 2,412 square metre supermarket, two levels of offices totalling 3,565 square metres, and 213 car spaces. The development, which will also be accessed via Jersey Street, was approved by VCAT with some amendments. It’s speculated the project could have an end value of between $20 million and $25 million.
Australia’s First K-Mart Centre to Double in Size
THE SHOPPING centre where Australia’s first K-Mart opened in 1969, is set to undergo a major extension and renovation.
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The owners of the K-Mart Plaza, also known as the East Burwood Plaza, will double the size of the complex, on the corner of Burwood Highway and Blackburn Road, from 15,000 square metres to 30,000 square metres.
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Pomeroy Pacific development manager Paul Chiodo said the $35 million extension will add about 30 specialty shops, a 5,500 square metre Coles supermarket, a 333 seat restaurant, gymnasium, and a First Choice bottle shop. The extension will be built over an an existing car park, on the western side of the 6.3 hectare site.
Neighbourhood Shopping Centres Out of Favour With Investors
One of two neighbourhood shopping centres put to tender last month has been withdrawn from sale, while the other will be offered for private sale, as vendors are forced to accept demand for retail property today is not as strong as it was when they decided to sell.
Read moreRow of Shops in Ivanhoe Sells For $5 Million. Redevelopment Imminent
A private developer has paid $5 million at auction for a row of six shops with redevelopment potential in Ivanhoe East’s Lower Heidelberg Road retail strip.
Read moredaVinci Advisers Backs Out of Foundry Deal
According to an article by the Australian Financial Review, Japanese based daVinci advisers is understood to have backed out of a plan to buy part of the mixed use Foundry development in Bourke Street.
Read more$300m Facelift for Fountain Gate Shopping Centre, Narre Warren
In a move sure to excite Fountain Lakes foxy morons Kath & Kim, the City of Casey has launched its $300 million vision for its Main Street retail and mixed use development, which marries into the Fountain Gate Shopping Centre in Narre Warren, about 42 kilometres south-east of the CBD.
Read moreSensis Kicks AFL World Out of QV
Telecommunications giant Telstra has signed the biggest CBD office lease deal for the year so far, making the unusual move to lease more than 3300 square metres of third-level retail space at Grocon’s QV development, which it will convert to offices.
Read moreSwanston Street Arcade to Sell
Retail investors are spoilt for choice at the moment, with another portfolio of shops about to be put to the market, this time in Swanston Street.
Read moreIkea Might Open Store in Dandenong
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.
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