Hawaiin, QIC trade mall stake
Hawaiin has acquired the half stake it didn’t control of Perth’s Claremont Quarter.
QIC was the seller, the off-market deal, believed to be worth c$208 million, reflecting a six per cent capitalisation rate.
On 2.7 hectares, it contains 29,766 square metres, anchored to Coles and David Jones.
There are also five mini-majors and 108 specialty tenancies.
A refurbished laneway dining precinct is due to open next month.
The catchment – c165,090 – is set to increase about 20,000 by 2033.
QIC held its interest in two unlisted entities – the QIC Property Fund and QIC Town Centre Fund (story continues below).
Last year the owners added to the footprint with the $4m purchase of 21 Bay View Terrace – abutting the David Jones store.
The co-sale is subject to Foreign Investment Review Board approval.
CBRE’s Simon Rooney with McVay Real Estate’s Sam McVay were the agents.
Also this week, Vicinity confirmed its purchase of a 50pc stake in a Perth mall from Future Fund – mail we reported in May.
Last week meanwhile, Charter Hall divested its stake in the Myer Melbourne building, to another co-owner.
Subscribe to our newsletter at the bottom of this page.
