Retail
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retailBattle between Masters and Bunnings heats up for home improvement market as Masters sales rocket 37%
There are now 29 Masters stores trading following the opening of four new stores over the March quarter.
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hammer pricesBank tenants prove popular as Commonwealth Bank in Swan Hill fetch $1.41 million at auction
Three Victorian bank branches sold in Melbourne yesterday with yields ranging from 5% to in excess of 7% at the Burgess Rawson auction.
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hammer pricesMelbourne family buys Sale Bunnings premises owned by Dahlsen family on 7.5% yield
Dahlsens, a regional Victorian hardware chain dating back to 1877, had operated a hardware store on the premises in Sale since 1974.
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retailDarlinghurst's Oxford Square retail centre listed with $70 million-plus hopes
Sydney’s Oxford Square retail complex has been listed by a syndicate headed by property developer Leon Fink with $70 million plus hopes.
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economyWestpac index records 5.1% drop in consumer sentiment
Over the previous two months consumer sentiment had risen by 9.9% and while economists believed sentiment the momentum would have slowed, a fall of this nature wasn’t expected.
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hammer pricesFlagship KFC Mentone premises bought by Asian investor for $3.505 million
The restaurant premises eventually sold for $3.505 million equating to a gross yield of around 6.5% based on rent of around $227,167 per annum.
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hammer pricesMidas premises on Whitehorse Road in Balwyn sells for $2.85 million
The investor report notes that the landlord recently agreed to reduce the rent to $120,160 per annum due to a long-standing relationship with the tenant.
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hammer pricesANZ bank premises in Korumburra sell for $462,000
The two-level brick building measuring 177 square metres brings in annual income of just under $25,000 and sold on a yield of around 5.2%.
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reitsFederation Centres resurrection complete with Goldman Sachs buy recommendation
Goldman Sachs has upgraded its investment recommendation for Federation Centres from ‘neutral’ to ‘buy’.
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retailLend Lease lists Docklands Safeway supermarket premises seeking $14 million-plus
The 2,681-square-metre supermarket on Merchant Street is the only full line national supermarket in Docklands and the first major retail investment to be sold in the Victoria Harbour precinct.
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