Home » Plaza under new management

Plaza under new management

20/01/2016

DANDENONG Plaza will soon have a new owner.
GPT Group has agreed to sell the shopping centre to Sydney-based Armada Funds Management for $197 million, subject to Foreign Investment Review Board (FIRB) approval.
Settlement is expected on 29 February.
JLL’s retail investments head Simon Rooney negotiated the transaction and said it would be the fourth largest in the retail sector for 2015 and the second largest individual shopping centre sold for the year.
The centre has about 57,128 square metres of gross lettable area and includes Kmart and Target discount department stores, Coles, Woolworths and Aldi supermarkets, Reading Cinemas, 14 mini major tenancies, 142 specialty tenancies, 23 kiosks and car parking for 3248 vehicles.
GPT’s head of retail Vanessa Orth said replacing Myer and new leases with Target and Woolworth had preceded starting a sale campaign in September.

Digital Editions

Soil clean-up wait continues

Purchase this photo from Pic Store: 522112 A giant asbestos-riddled soil mound in Bangholme’s Green Wedge still remains, despite an order for its removal by…

More News

Man scarred by alleged New Year’s Eve stabbing

A Hampton Park man says his “life has changed forever” after a horrifying alleged stabbing on the evening of New Years Eve at Pakenham Station. James says he remembers watching…
Iranian diaspora concerned as anti-government protests continues

As Iran’s anti-government regime continues to escalate, much of the Iranian diaspora in Casey have had no or limited access to their family and friends for over two weeks. According…
Sth East MPs mourn Bondi atrocity

Isaacs Labor MP Mark Dreyfus has paid a moving tribute in Federal Parliament to 15 victims of last year’s Bondi shooting attack. On 19 January, Mr Dreyfus was among scores…
Police boost road presence for long weekend

Police will be ramping up their operations and presence on the road over the public holiday long weekend, focusing on excessive speeds as well as drink and drug driving. Victorian…
Stay vigilant around water this long weekend

Purchase this photo from Pic Store: 153243 Ambulance Victoria is urging people to take extra care in and around water this long weekend, as a spate of tragic drownings continue…

Road-safety first for schools

Casey Council has released a national-first road safety guide aimed at reducing child pedestrian injuries around schools. A Practical Guide to Safer School Precincts was launched at the newly-opened Kala…
Celebrating a good harvest

Basking in sunshine, about 200 celebrated a Pongal harvest festival in Harmony Square, Dandenong on Sunday 18 January. Victorian Tamil Cultural Association staged the 32nd annual event, featuring drumming, dancing…
OPINION: The back-to-school survival guide for working mums

So, you survived Christmas and are limping to the finishing line as school holidays come to a close. You are expected to be ‘refreshed’ as you return to work, yet…
OPINION: How should Victorians celebrate Australia Day this year?

Purchase this photo from Pic Store: 434368 It is 2026, and Australia remains the only Commonwealth country without a national treaty with its Indigenous peoples. Other settler nations, such as…
Hunt for Casey’s most wanted

Crime Stoppers Victoria has announced a blitz on Casey’s eight most wanted people. Collectively, they are wanted on 60 arrest warrants for offences including car theft, burglary, drugs and skipping…