The buyer struck the first neighbourhood mall deal in Victoria in six months, acquiring Village Lakeside Shopping Centre in Pakenham for $25 million.
A Chinese investor has struck the first significant neighbourhood mall sale in Victoria in six months after buying the Coles-anchored Village Lakeside Shopping Centre in Pakenham in Melbourne’s south-east for about $25 million.
Before this deal, the last noteworthy neighbourhood centre to transact in Victoria was the Woolworths-anchored Arena Shopping Centre less than 3 kilometres away in Officer, which sold to a local investor in November for $50 million on a tighter 5.2 per cent yield. Neighbourhood centre sales have been few and far between in the past 18 months – only half a dozen have sold in Victoria since January 2022– as vendors and buyers have failed to see eye-to-eye on pricing following the steep rise in interest rates, which has reset real estate values and rental yields.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Victoria Greens to push for greater access to safe injecting rooms with proposed bill changeExclusive: Proposed amendment would make North Richmond facility permanent and widen eligibility criteria
Read more »
A third of Victoria’s urgent code-one ambulance callouts taking more than 15 minutesVictoria’s ambulance response times remained stubbornly long over the first three months of this year despite the billions of dollars the state government is pouring into the health system.
Read more »
Driver killed in two-car crash at intersection in VictoriaA driver has been killed when two vehicles collided at an intersection in Clarkes Hill. 7NEWS
Read more »
Watchdog finds predatory behaviour persists among Victoria Police officersVictoria’s police watchdog has found that officers continue to engage in predatory behaviour towards vulnerable members of the public, despite internal efforts to detect and subdue it, and that the conduct remains under-reported.
Read more »
High school student critical after being hit by car in GreensboroughA high school student has been taken to hospital in critical condition after she was hit by a car in Melbourne’s north-east.
Read more »
Resort where Australian ran wild must slaughter goat to make peaceThe chief of the village where an Australian man embarked on an alleged naked rampage after drinking from a bottle of vodka says the resort he was staying in must slaughter a goat to restore peace to the deeply conservative Muslim community.
Read more »