{"id":20279,"date":"2019-07-29T08:49:44","date_gmt":"2019-07-28T20:49:44","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=20279"},"modified":"2019-07-29T08:49:44","modified_gmt":"2019-07-28T20:49:44","slug":"how-coles-and-woolies-are-playing-the-property-game","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/how-coles-and-woolies-are-playing-the-property-game\/","title":{"rendered":"How Coles and Woolies are playing the property game"},"content":{"rendered":"

PHOTO:\u00a0Coles has sold $240 million of neighbourhood shopping centres in the last two years.\u00a0<\/strong><\/p>\n

Supermarket giants Coles and Woolworths aren’t known for being serious players in the property market but they are in full swing flipping real estate across the country.<\/p>\n

Coles is in the midst of its property divestment strategy having sold at least $240 million of neighbourhood shopping centres in the last two years. That figure is likely to tick over the $300 million mark once it sell Coles Amaroo Village and Willowdale Shopping Centre for another $65 million.<\/p>\n

Woolworths too\u00a0has stepped up its sales having offloaded another of its shopping centres in Perth just this week for $27 million<\/a>, making the most of strong investor demand for non-discretionary retail assets under $100 million, which are considered relatively insulated from the threat of e-commerce.<\/p>\n

Last year its sale of a shopping centre in Perth’s outer suburbs transacted on the\u00a0sharpest initial yield ever recorded for a neighbourhood centre in Western Australia over $20 million, at 5.8 per cent.<\/a><\/p>\n

READ MORE VIA AFR<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PHOTO:\u00a0Coles has sold $240 million of neighbourhood shopping centres inRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":20280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478101399,478106433,478098914,478098513,478098873,478098579,478098514,478098511,478098509,478103965,478106431,478106434,478106432,478101231],"class_list":["entry","author-data123nz","post-20279","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-coles","tag-coles-amaroo-village","tag-commercial-property","tag-property","tag-property-investment","tag-property-market","tag-propertynoise","tag-real-estate","tag-real-estate-news","tag-retail-property","tag-supermarket-giants","tag-willowdale-shopping-centre","tag-woolies","tag-woolworths"],"yoast_head":"\nHow Coles and Woolies are playing the property game - 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