shopping centre sale – realestatesource

THE FUTURE Fund has paid £200 million ($A375 million) for a stake in UK’s most visited regional shopping centre, The Bullring, in Birgmingham.

The Fund Fund – which exists to generate income to pay the government’s unfunded upcoming superannuation commitments – has purchased a 33 per cent stake in the centre at a low yield of 7 per cent. Two years ago, at the peak of the property boom, prime UK shopping centre yields were about 4.75 per cent.

The $61 billion Future Fund is directed by former Commonwealth Bank of Australia executive David Murray (pictured), and headquartered in Melbourne.

Western Australia

CFS Frontrunner to Buy Perth’s Lakeside Joondalup SC For $450 Million

August 24, 2009 Marc Pallisco shopping centre sale

COLONIAL First State Global Asset Management is understood to be in negotiations to buy Perth’s Lakeside Joondalup Shopping Centre in Perth for about $450 million.

The speculated sale price equates to a yield of about 7 per cent, and a markdown of $40 million, from the shopping centre’s $490 million valuation in June.
Other institutions reported as being interesteed in buying the centre include Lend Lease’s Australian Prime Property Fund and the Future Fund, which recently sold a substantial amount of Telstra shares.

Queensland

Gold Coast’s Miami One Shopping Centre For Sale

May 8, 2010 Marc Pallisco Gold Coast, queensland, shopping centre sale

GOLD Coast’s Miami One Shopping Centre has been listed for sale.

Assuming a retail yield of about 8 per cent, the centre would sell at a price of about $22 million.

Below is an announcement about the listing, by the selling agent.

Victoria

Charter Hall Pays $32.5 Million For Bendigo Shopping Centre, Victoria

January 1, 2012 Marc Pallisco Bendigo, Centro, charter hall, shopping centre sale

SYDNEY based fund manager Charter Hall has paid $32.5 million for the Lansell Plaza near Bendigo in regional Victoria. The

National

Woolworths to Sell $100 Million in Australian Property Assets

September 2, 2009 Marc Pallisco shopping centre sale, supermarket

SUPERMARKET giant Woolworths will try to sell more than $100 million in assets for sale, as it prepares to ramp up its resources for its new Australian hardware sector partnership with US-based Lowes Group.

Woolworths has listed for sale sell three shopping centres, including Sydney’s Thornleigh Marketplace and Pemulway Marketplace – expected to reap about $50 million combined – and one in Queensland’s Caloundra.

Victoria

Australian Unity Sells Footscray Plaza Shopping Centre For Speculated $20 Million

March 28, 2010 Marc Pallisco footscray, institution, Melbourne @ 5 Million, retail sale, shopping centre sale

AUSTRALIAN Unity is understood to have made about $20 million from the sale of its Footscray Plaza complex, at a busy intersection, in the burgeoning western suburb.

Private development company Banco Group, headed by Mario Lo Guidice, confirmed he purchased the 13,968 square metre plaza, at the busy corner of Paisley and Albert streets.

Coles and K-Mart are the two biggest tenants in the centre, occupying about 84 per cent of Gross Lettable Area.

Victoria

Centro Sells Rosebud Shopping Centre For $13.14 Million

September 24, 2009 Marc Pallisco Centro, institution, shopping centre sale

The beleagured Centro Properties Group has offloaded a shopping centre in the small Victorian coastal hamlet of Rosebud, about 80

Victoria

Mirvac Sells Assets in Doncaster, Maitland, For $27.4 Million

September 16, 2009 Marc Pallisco institution, mirvac, shopping centre sale, suburban office sale

MIRVAC Real Estate Investment Trust has sold two investments for a combined total of $27.4 million.

In Melbourne, the group offloaded the Doncaster Corporate Centre at 591 – 609 Doncaster Road for $17.3 million. The sale includes a purpose built Silverstone Jaguar showroom and three office buildings. CB Richard Ellis was marketing agent for this property.

Mirvac also sold the Pender Place Shopping Centre in the NSW Hunter Valley town of Maitland for $10.1 million – about the same price it was purchased for in 2007.