Australian retail property news

A Sydney retail convenience service centre sold for $23 m at 4.93% yield, one of the highest values ever paid for a service centre in NSW. Cushman & Wakefield’s Yosh Mendis, Geoff Sinclair & Michael Collins, in conjunction with JLL’s Dylan McEvoy and Gordon McFadyen.

Fawkner Property’s General Manager of Funds Management Stuart Fox said the transaction was a fantastic result for both parties.The deal was successfully negotiated off-market by Simon Rooney, Head of Retail Capital Markets – Pacific at CBRE Asia Pacific.

Perth’s Greenpool Capital in partnership with Qualitas has acquired the remaining 50% stake in the Gold Coast’s Runaway Bay Centre for $132 million. CBRE Head of Retail Capital Markets Pacific Simon Rooney negotiated the two Runaway Bay transactions at a combined $260 million.

Hong Kong’s Link REIT has acquired a 50% interest in Sydney retail assets the Queen Victoria Building, The Strand Arcade and The Galeries at $538.2 m  CBRE’s Simon Rooney, introduced Link REIT and EG Funds and negotiated the sale on behalf of Singapore sovereign investor GIC, with the campaign...

Ballarat’s Delacombe Town Centre convenience based sub-regional shopping centre sold on behalf of Troon Group to SCA Property Group for $112m reflecting yield of 5.34%. The off-market sale was brokered by JLL Senior Director of Retail Investments Stuart Taylor and Joint Head of Retail...

The $32.6 million land sale of the Chadstone Ford and Hyundai dealership in south-east Melbourne has set a new record achieving a yield of 3.32% sold by Co-agents Burgess Rawson and Gross Waddell ICR.