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Hawaiian buys The Colonnade

PROPERTY developer Hawaiian will gain ownership of The Colonnade in Subiaco after entering into an unconditional contract to acquire the centre from the Teo family.The latest addition to Hawaiian’s retail and commercial property portfolio, The Colonnade adds to Hawaiian’s existing of retail assets, which include Carillon City and Claremont Arcade (in joint ownership with Multiplex). Hawaiian said it had no immediate plans to change the focus of the shopping centre. Peter Gibbons, Hawaiian general manager strategic advisory and investments, said the purchase complemented Haw-aiian’s portfolio and strategic vision. “We are currently working through all of our options with the centre to maximise the existing brand potential already in place by the Teo family’s contribution,” he said. “This will be a flagship asset for Hawaiian and will represent Hawaiian’s excellence in retail and show case Hawaiian’s outstanding team knowledge and experience in developing, managing and marketing their portfolio.” Colonnade director Wayne Teo said the result was a positive outcome for the existing retailers at the centre as well as shoppers who frequent the area.

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Ranked by total area owned then by total assets

18th-Eureka Real Assets31,260
19th-Perth Upper China Hotel31,000
20th-Hawaiian30,551
21st-Credit Suisse19,379
22nd-Cape Bouvard19,234
30 property - commercial owners ranked by size of total area in m2

Ranked by size of total area under management

6th↑ISPT131,890
7th-AMP Capital110,110
8th↓Hawaiian94,837
9th↓Charter Hall86,902
10th-Stockland82,597
44 shopping centre owners ranked by size of total area in m2

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