This article is from the Australian Property Journal archive
AVENTUS Group is considering the Supreme Court of Victoria’s judgement on Friday that ordered consent be required for Home Consortium’s proposed sub-lease of part of a former Masters store in Cranbourne to Amart Furniture.
The property’s landlord is subsidiary Aventus Cranbourne Thompsons Road Pty Ltd. Home Consortium acquired the head lease as part of its $725 million acquisition of dozens of Masters warehouse sites when Woolworths pulled the plug on the chain in 2016.
The site is now the Cranbourne Home homemaker centre, following the same conversion path taken by many other Masters warehouses.
Home Consortium struck a sub-lease over 6,000 sqm of empty space at the centre with Amart last in November last year, and took Aventus to the Supreme Court in March after the ASX-listed group had not come to a decision on the deal after nearly three months.
