This article is from the Australian Property Journal archive
FAMILY-owned Canute Investments Limited is looking to divest office buildings, shopping centres and residential sites across Western Australia and Queensland in a $140 million portfolio sell-down.
Among the properties are the fully leased, Woolworths anchored 5,294 sqm Carramar shopping centre, on a 2.08-hectare site with 300 car parks and development land, and has a net income of $2.050 million.
Another pair of Woolworths anchored retail assets in Queensland, the Logan Village and Ormeau Village shopping centres, are part of the offering. Woolworths has 20-year leases, both with eight five-year options.
The Port Kennedy-based family’s residential portfolio consists of 84 residential properties across WA, currently with 85% occupancy, that bring a fully leased gross income of $1.536 million each year, all available in one-line and alongside an aligned property management business.
Canute’s three-level 2,591 sqm office building at 13-15 Rheola Street in West Perth offers medium-term redevelopment opportunity, and a fully leased net income of $975,400 per annum.
The final WA property a fully occupied 716 sqm Ellenbrook commercial building at 40 and 42 Coolamon Blvd, close to major government infrastructure project including Metronet and North Link WA, and offering an annual income of $97,855.
All properties are being offered for sale through CBRE individually expressions of interest campaign closing 5th September.
