Bunnings’ million-dollar sale

A national portfolio of Bunnings Warehouse retail stores has been sold to Charter Hall Group and Telstra Super.

Digital • 21 November 2012 • Big Law

Firms: Lander & Rogers (Bunnings); Piper Alderman (Charter Hall Group and Telstra Super)

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Deal: Sale of Bunnings Warehouse retail stores and Bunnings anchored real estate

Area: Property

Value: $207 million

Key players: Partner Lexia Wilson (pictured) led for Pipers

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Deal significance: The $207 million purchase includes a $176 million national portfolio of Bunnings Warehouse retail stores to be purchased from Bunnings. It also includes Bunnings anchored real estate worth $30.7 million at Stafford in Brisbane to be purchased from the Charter Hall-managed Direct Retail Fund. The acquisition of the Bunnings portfolio will increase Charter Hall’s managed Australian retail property portfolio to $2.3 billion. The acquisition of the portfolio is due to complete this quarter.

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