Hawaiian settles Claremont Quarter deal

Hawaiian’s purchase of a half stake of Claremont Quarter from fund manager QIC for a reported $207 million has settled.

The family office announced today that the deal, reportedly worth $207 million, is finalised.

Additionally, Hawaiian announced its $8 million refurbishment of the laneway at Claremont Quarter is complete.

QIC signalled in June it would look to sell down its stake of Claremont Quarter and in August Hawaiian emerged as the buyer.

Today, Hawaiian chief operating officer Richard Kilbane said the acquisition underpinned the company’s commitment to the centre and to retail as an asset class.

“We are grateful for the partnership we shared with our outgoing partners QIC and for the opportunity for Hawaiian to acquire Claremont Quarter,” he said.

Hawaiian bought Claremont Quarter, then Claremont Arcade in the 1990s, along with a host of other retails assets in Bassendean, East Victoria Park, Noranda and Innaloo.

The company owns 11 shopping centres across WA, two office buildings, as well as the Parmelia Hilton and Cable Beach Resort.

Female-founded fashion brand DISSH recently announced it would open first WA store in Claremont Quarter later this year.