Jy Group News Today

Vicinity buys back a half stake in Sydney’s Chatswood Chase mall at a 45 per cent discount, six years after trading it to Singapore’s GIC, a sign of how values have corrected.

Along with other commercial properties, malls and their valuations have been battered by the disruption to traditional shopping from e-commerce and by the sharp rise in interest rates.

Retail landlord Vicinity Centres has stepped up its asset sale program with the divestment of a half share of the just-opened Broadmeadows Central mall in Melbourne to Nikos Property Group for $134.5 million, with the proceeds going to repay debt.

Recent news that a block of Torontos Kensington Market neighbourhood was facing future redevelopment had the community up in arms, and owners down...

The sale of Deepwater Plaza on the Central Coast reflects the strong appetite in the market for sub-regional malls, albeit at higher yields and lower prices.

A capital raising for a new fund to acquire Adelaide’s Brickworks Marketplace comes amid increased interest in individual retail assets and smaller malls.

Hong Kong's JY Group has acquired 50 percent of the Carlingford Court shopping centre in Sydney from pension fund manager Telstra Super.

In selling the metropolitan mall, the super fund has benefited from a 36 per cent mark-up on the asset it purchased 9 years ago.

The acquisition of The Station Oxley for $47 million by Haben adds to a flood of capital targeting the neighbourhood mall sector.

The latest deal, struck on a yield below 6 per cent, also comes in a record year for Queensland’s retail real estate.