Australian Property Markets News’ Post

Valor Real Estate Partners LLP, in collaboration with QuadReal Property Group , has completed the acquisition of a last-mile distribution center in Purfleet, Essex for £130 million. The 630,000 square feet facility, currently under a lease agreement with Tesco until 2033, is a pivotal distribution hub for ambient goods across London and the southeast region. This deal represents the largest single-asset transaction for the joint venture and highlights their strategic focus on enhancing their urban logistics portfolio

British Land has purchased the Orbital Retail Park in Cannock, Staffordshire from Clearbell Capital LLP for £27.6 million. The retail park covers 123,215 square feet and houses 11 stores, including prominent tenants like Aldi, M&S Foodhall, and Boots. This acquisition aligns with British Land's strategy to grow its retail park portfolio, capitalizing on the park's prime location and diverse tenant mix.

JLL, in conjunction with Stonebridge, is pleased to announce the sale of Eastgate Bondi Junction for $126.95 million. After almost 30 years of ownership, ISPT has divested the Coles, ALDI, Kmart and Dan Murphy’s anchored Sub-Regional centre to Charter Hall. The campaign generated unprecedented local and global capital engagement given the Centre's truly rare position in the coveted eastern suburbs of Sydney. Throughout 2023 there was a resurgence in demand for Sub-Regional centres, with total transaction volumes at $2.29 billion and representing 40% of all retail transactions in Australia (above the 10-year average of 25%). Congratulations to ISPT on this significant transaction and Charter Hall on adding to their portfolio. If you would like further details on this transaction please contact the JLL team. #AustralianRetailProperty #CommercialRealEstate #CRE #RetailInvestment #CapitalMarkets #ShoppingCentre #ShoppingCentreInvestment #PropertyInvestment #InvestmentProperty #RetailAssets #CommercialProperty #AustralianCRE #RealEstateFinance #RetailPortfolio #PropertyDevelopment #InvestmentOpportunity #RetailStrategy #AssetManagement #PropertyMarket #RealEstateInvestor #RetailTrends #AustralianEconomy #MarketAnalysis

🔸 Investment Acquisition 🔸 Avison Young | UK Retail is pleased to have advised Wesleyan in the off-market acquisition of the Waitrose in Chipping Sodbury. This acquisition underscores our ability to secure high-quality assets off-market in the competitive supermarket investment sector. The property comprises a modern foodstore, purpose-built by the retailer, and is let for a further 19.5 years with 5-yearly CPI-linked rent reviews. This acquisition highlights the ongoing confidence in the supermarket sector, with investors eager to secure best-in-class assets that promise resilient performance and strong, indexed income. As the economic outlook starts to look more promising, with an expected rate cut in Q4, we anticipate a tightening in yields on the horizon, making it an attractive proposition for investors to consider further opportunities in the sector. For more information or to discuss your active requirements in the sector, please don’t hesitate to get in touch with Jack Lloyd or Scott Mitchell.   #avisonyoungretail #avisonyoung #supermarket #foodstore #retailinvestment

🟢 COVENTRY RETAIL PARK SOLD AS LONDONMETRIC MAKES £74.2M IN DISPOSALS 🟢 💼 LondonMetric sold Coventry's Airport Retail Park to NFU Mutual for £37.3m, achieving a 5.5% net initial yield. The 138,000sqft site features 13 occupiers, including Aldi, Curry's, and Dunelm, with a six-year average lease term. 💼 🏬 The sale is part of LondonMetric's £74.2m disposals of non-core assets, including properties in Totton, Huddersfield, and two pubs. The company has also reinvested £50.1m in strategic acquisitions. 🏬 💥 CEO Andrew Jones highlighted the focus on higher-quality assets with rental growth potential. 💥

ICG Real Estate Investments and GARBE acquired 15 supermarkets and seven hypermarkets from Coop, leasing them back for 30 years. #ICGRealEstate #GRRGARBE #CoopAcquisition #SupermarketPortfolio #RetailInvestment #LongTermLease #RealEstateInvestment #ItalianRetail #StrategicRealEstate #JointVentureSuccess #europere #topstory #property #story #news #Europe #europerealestate https://lnkd.in/eq-Har-Y

British Land is rapidly ploughing capital into the retail park development sector following a “particularly strong” market performance. Since April, the development company has invested £711 million into retail park acquisitions, offloading hundreds of millions of pounds of non-core assets to pursue what it describes as ‘one of its preferred subsectors’.  “Since 2021 we have increased our exposure to retail parks from 15 per cent of the portfolio to 32 per cent today,” said chief executive, Simon Carter.   “This conviction is paying off, with retailers competing for cost-efficient out-of-town space to support their online operations.  British Land currently has 98 per cent portfolio occupancy, with performance levels high in the following subsectors:  Campuses: 97 per cent   Retail parks: 99 per cent   London urban logistics: 100 per cent 

“Over the last four years, we’ve focused on improving the tenant mix at Orbital, securing strong tenants like Aldi and driving consistent footfall growth. We’re pleased to sell to British Land, who have the experience and expertise to take the scheme forward.” – Toby Saul MRICS, Asset Management Director. We’re proud to announce the sale of Orbital Retail Park, Cannock, to British Land for £27.6m. This significant transaction marks the conclusion of four years of Clearbell’s active asset management, where we’ve worked to enhance tenant mix and boost footfall. Located near the M6 Toll and the popular West Midlands Designer Outlet, the 123,215 sq ft retail park is home to a diverse mix of national retailers, including M&S Foodhall, Boots, Aldi and Pure Gym. Recent lettings to Tapi and Flooring Superstore reflect growing demand, with rental values increasing from £17 to £20 psf under our ownership. We’re confident that British Land’s expertise will continue to drive the scheme forward, with plans already in motion for a flagship unit in the current Homebase store. You can read more about the launch of the sale here: https://bit.ly/4gqchs8 #CommercialProperty #AssetManagement #RetailParks

Woodland Hills, CA, DealPoint Merrill announces the acquisition of a portion of the Crossings at Westland Shopping Center, a 126,700-square-foot retail property located in Westland, Michigan. Nestled within a bustling residential and retail corridor along Southern I-275, the shopping center is strategically positioned in one of Michigan's rapidly growing cities. Surrounding amenities include established retail shops, restaurants, and recreational facilities, further enhancing the site's appeal. DealPoint Merrill plans to commence the property's redevelopment in the first quarter of 2025. This project represents the company's fifth project in Michigan, highlighting its ongoing commitment to transforming retail in high-growth regions. The acquisition was led by David Frank, CEO of DealPoint Merrill, with Sterling McGregor, President, managing due diligence. Jason Limbert and Tyler Bendicksen played integral roles in the acquisition and underwriting process.

🟢 DTZ ACQUIRES LONDON RETAIL PARK 🟢 💼 DTZ Investors has purchased Anchor Retail Park in Mile End, London, from Lothbury for £37m. 💼 🏬 The 3.2-acre site offers 45,385sqft of retail space with tenants like Asda, Halfords, and Currys, and includes a residential block. 🏬 💥 The acquisition presents strong renewal prospects and potential for capital enhancement, fitting DTZ's strategy of investing in London-based assets with growth potential. 💥