Business
Gonski, Mordant and Curtis book 338 per cent profit on warehouse – The Australian Financial Review
Charter Hall snapped up the Bunnings property with plans to convert it to a high-profile logistics or last-mile delivery facility.
In October last year, commercial landlord Dexus acquired Homemaker Prospect, a 25,770sq m large-format retail centre near Blacktown, for about $65 million with the intention to convert it over time to industrial use.
Bunnings had four years left on its lease, but Charter Hall negotiated a lease surrender package with Bunnings who no longer need the facility (it has two other warehouses close by) to vacate immediately. The lump sum payment will provide the fund manager with an income stream whilst…
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