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 more
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 more
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.Read more
THE Victorian Civil and Administrative Tribunal has approved a major mixed use development, for a site opposite the popular Balwyn Theatre.
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.
THE SHOPPING centre where Australia’s first K-Mart opened in 1969, is set to undergo a major extension and renovation.
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.
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.
One of two neighbourhood shopping centres put to tender last month has been withdrawn from sale, while the other will be offered for private sale, as vendors are forced to accept demand for retail property today is not as strong as it was when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 more
Private investor the Erdigroup has paid $18.25 million for St Kilda’s Marque Hotel, on Fitzroy Street.Read more
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 more
Queensland based developer and listed property trust QIC has announced a $20 million expansion of its Watergardens Town Centre shopping centre, in the north-western suburb of Taylors Lakes.Read more
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
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 more
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 more