Stockland sells Baulkham Hills centre to Mintus for $141.25m
Stockland has exchanged a couple of major shopping centres.
In Sydney, it sold Stockland Baulkham Hills to Mintus for $141.25 million – valuing every square metre of lettable area at $7979.
The vendor held the property since 1982, last refurbishing it 12 years ago.
In mid-2020, the book price was published at $140.1m, down on the $152m December, 2019, assessment.
Aldi, Coles and Woolworths are the anchor occupiers; there is also 76 specialty fit-outs, including around a 200-seat food court, and 830 car parks.
The new owner is Parramatta-based.
Meanwhile, Haben Property Fund has settled on the acquisition of Stockland Caloundra, in Queensland, for $97m (story continues below).
This deal, like Baulkham Hills, was negotiated by JLL and reflects a 6.5 per cent capitalisation rate.
Each sqm of lettable area however is valued at $6171.
Stockland confirmed in June it was selling this complex and The Pines in Melbourne’s Doncaster East to the purchaser.
The combined value was speculated at c$250m.
Caloundra is about 20 kilometres south of Maroochydore.
