REAL ESTATE – AUSTRALIA – RETAIL

Merger resets retail landscape

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Original article by Nick Lenaghan, Su-Lin Tan
The Australian Financial Review – Page: 33 : 28-May-15

The combined Federation Centres and Novion Property Group will be the second-largest retail property trust in Australia, with some $A22bn worth of shopping centres. Novion shareholders voted in favour of the deal on 27 May 2015. The combined group will be headed by Federation CEO Steven Sewell, who is tipped to undertake a strategic review after the merger is finalised. The deal is still subject to court approval.

CORPORATES
FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP – ASX NVN, SCENTRE GROUP – ASX SCG, CHADSTONE SHOPPING CENTRE, EMPORIUM MELBOURNE, THE GLEN SHOPPING CENTRE, DIRECT FACTORY OUTLETS PTY LTD

ACCC clears Federation-Novion merger

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 34 : 22-May-15

The Australian Competition & Consumer Commission has approved a $A12bn merger between Federation Centres and Novion Property Group. However, the merged entity will be required to divest either the Karingal Hub or Bayside shopping centre, which are both located in the Melbourne suburb of Frankston. Novion investors are scheduled to vote on the merger in late May 2015.

CORPORATES
FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP – ASX NVN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, KARINGAL HUB, BAYSIDE SHOPPING CENTRE, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, SHAYHER GROUP, CAPALABA CENTRAL

Premier Investments in fight to get the right lease deals

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Original article by Robert Harley
The Australian Financial Review – Page: 40 : 24-Mar-15

Australian-listed Premier Investments boasts more than 1,000 retail stores. The group’s rent bill for the first half of 2014-15 rose by 6.7 per cent to $A99.3m. CEO Mark McInnes notes that this accounted for 20 per cent of its sales revenue. He says Premier is prepared to close stores if landlords are not willing to offer the market rent when leases are renewed. The group closed a Just Jeans store in Melbourne as a result

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, JUST JEANS PTY LTD, JAY JAY’S JEANS WAREHOUSE PTY LTD, PORTMANS PTY LTD, JACQUI E PTY LTD, DOTTI

Woolies’ supermarket growth revised

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Original article by Sue Mitchell, Matthew Cranston
The Australian Financial Review – Page: 17 : 11-Feb-15

Shares in Shopping Centres Australasia Property Group have risen by 15 per cent so far in 2015. However, the listed property trust has reported that growth in sales at supermarkets in its shopping centres slowed to 4.2 per cent in the December 2014 quarter. Some analysts believe that this may have implications for the sales growth of grocery giants Coles and Woolworths, which will report their results later in February

CORPORATES
SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP – ASX SCP, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, UBS HOLDINGS PTY LTD, ALDI STORES SUPERMARKETS PTY LTD

Novion, Federation seal $22bn mall merger

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Original article by Sarah Danckert
The Australian – Page: 19 : 4-Feb-15

Australian-listed real estate investment trusts (A-REITs) Novion and Federation Centres, active in the retail malls segment, will be merged in a deal worth $A22bn. The combined entity will be ranked third in the A-REITs category behind rival shopping centre owners Westfield Corporation and Scentre Group. Novion is the former CFS Retail, and along with Federation has 100-plus mall assets. Speculation is growing that a merger agreement may also soon be struck that could involve Dexus, GPT and Stockland

CORPORATES
NOVION PROPERTY GROUP – ASX NVN, FEDERATION CENTRES – ASX FDC, WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG, DEXUS PROPERTY GROUP – ASX DXS, GPT GROUP – ASX GPT, STOCKLAND – ASX SGP, CHADSTONE SHOPPING CENTRE, CHATSWOOD CHASE, ASX LIMITED – ASX ASX, COMMONWEALTH PROPERTY OFFICE FUND, FRASERS CENTREPOINT LIMITED, AUSTRALAND PROPERTY GROUP, CANADA PENSION PLAN INVESTMENT BOARD, UBS HOLDINGS PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, MACQUARIE BANK LIMITED – ASX MBL, CREDIT SUISSE (AUSTRALIA) LIMITED

Commercial deals a record $26.8b

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 33 : 9-Jan-15

Data from CBRE shows that there was six per cent growth in sales of Australian commercial properties worth at least $A5m in 2014, to a new high of $A26.8bn. Sales of industrial properties rose by 55 per cent to $A5bn, while sales of office buildings grew by two per cent to $A14.5bn. Separate figures from Jones Lang LaSalle suggest that commercial property sales rose by 16 per cent to $A28.2bn in 2014

CORPORATES
CBRE PTY LTD, JONES LANG LASALLE AUSTRALIA PTY LTD, GPT GROUP – ASX GPT, CBUS PROPERTY PTY LTD, DEXUS PROPERTY GROUP – ASX DXS

Commercial space returns up on 2013

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 14-Aug-14

The latest data from the Property Council of Australia and IPD shows that industrial, retail and hotel properties delivered an average return of 9.7 per cent in 2013-14. This is 50 basis points higher than in 2012-13. IPD’s Anthony De Francesco anticipates that returns will top 10 per cent in the 2014 calendar year. However, the All Property Index data also shows that the total return on commercial property eased to 8.9 per cent

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, IPD, INVESTMENT PROPERTY DATABANK

Pendulum sways to ‘Yes’

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 20-Jun-14

Westfield Retail Trust investors are expected to approve a restructuring of the group at a meeting on 20 June 2014. A vote on the proposed deal was postponed earlier in the month, when 25.9 per cent of proxy votes rejected the plan to merge the trust with the Australasian property portfolio of Westfield Group. Westfield Retail securities closed $A0.04 higher at $A3.21 on 19 June

CORPORATES
WESTFIELD RETAIL TRUST – ASX WRT, WESTFIELD GROUP – ASX WDC, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, UNISUPER LIMITED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED, COLONIAL FIRST STATE GROUP LIMITED, COLONIAL HOLDING COMPANY LIMITED – ASX CNG