Commercial and residential property news
CONSUMERS spent $19.35 billion on household goods, clothing, and at cafes and restaurants in April, according to the latest retail trade figures from the Australian Bureau of Statistics. The strong sale result comes after a steady fall in interest rates and petrol prices since last year, and two federal government stimulus packages announced in October, and
Read morePLANS to build a large concrete ceiling above the Windsor train station underpass, which would act as a floor to about a half dozen new shops on Chapel Street, may be on the table. Government affiliated organisation Victrack, whose role is to operate commercially by adding value to the state’s public transport assets, said it
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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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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 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 moreDEVELOPER 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 bought half the shopping centres put to the Melbourne market in 2006-07, up from a third of centres bought in 2005-06.
Read moreA Singaporean investor has paid $34.1 million on a low passing yield of 5.5% for the Centre Way building on Collins Street in the Melbourne CBD
Read morePrivate investment company The Baker Group has paid $4.15 million for a busy car wash in Punt Road South Yarra.
Read moreTwo service station in Melbourne’s eastern suburbs have sold in deals worth more than $9 million.
Read moreThe former Lincoln Mills industrial site in Coburg is to be redeveloped into a $20 million homemaker centre.
Read moreA Russell Street shop has sold on a reportedly record low yield of 1.85 per cent.
Read moreThe last property asset of failed developer Westpoint is believed to have sold to local private investor Harry Chua for $2.7 million.
Read moreFord Motor Company Australia’s engine plant could fetch around $20 million as a retail development site.
Read moreRevenue 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 investors spent more than $12 million in Melbourne’s inner eastern suburbs this week, buying retail showrooms, office buildings and development sites.
Read moreA 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 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 moreMelbourne 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 moreHAVING 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.
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.
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.