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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11/10/2005 - 22:00
Hawaiian buys The Colonnade
11/10/2005 - 22:00
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Family offices
Rank Company # 11th BGC Australia $1.50bn 12th Cape Bouvard Investments $1.50bn 13th Hawaiian NFP 14th Persephone $1.50bn 15th DR Capital $900.0m 32 family offices ranked by estimated wealth -
Property - Commercial Owners
Rank Company # 20th Investa Property 31,260 21st Perth Upper China Hotel 31,000 22nd Hawaiian 28,051 23rd Zone Q Investments 27,525 24th BlackRock Real Assets 27,000 38 property - commercial owners ranked by size of total area in m2 -
Shopping Centre Owners
Rank Company # 8th Dexus 107,360 9th Region Group 103,545 10th Hawaiian 94,008 11th Erceg Management 63,034 12th APIL 53,869 42 shopping centre owners ranked by size of total area in m2
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