Ex-Hawk Chris Langford offloads Wheelers Hills’ Brandon Park shopping centre for $107.5m
Brandon Park Shopping Centre in Melbourne’s southeast has sold to HMC Capital.
Ex-premiership Hawthorn Football player and former AFL Commissioner Chris Langford has sold the Brandon Park Shopping Centre in Wheelers Hill for $107.5m.
Langford played more than 300 games for the Hawks in the 80s and 90s, and was an AFL Commissioner from 1999-2016.
He’s now managing director at Newmark Capital which bought the shopping centre for $135m in 2017, with the recent deal to sell it marking a $27.5m loss for the firm.
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ASX-listed asset manager HMC Capital has bought the site in Melbourne’s southeast, which spans over two-storeys and is home to 72 stores including Aldi, Coles, Liquorland and Chemist Warehouse.
Newmark was approved to add more medical, residential and commercial space — as well as scope for 103 serviced apartments — to its 5.81ha site in 2022, but decided to hold off and sell the property instead prior to its construction.
Chris Langford playing for Hawthorn in 1994.
Langford said earlier that the sale offered a “unique opportunity” for the next owner to enhance the retail hub.
CBRE head of retail capital markets Simon Rooney said the property attracted keen interest from a wide range of investors given its metropolitan Melbourne location and opportunity to expand its retail offering.
“The site also offers future potential for a large scale, mixed-use development opportunity subject to relevant planning approvals,” Mr Rooney said.
“Shopping centres are increasingly evolving into multidimensional precincts, with Brandon Park providing the ideal platform to deliver a future project of scale and flexibility.”
Brandon Park sits adjacent to Victoria’s largest employment hub out of the CBD, the Monash National Employment and Innovation Cluster — a collection of health, technology, business and education precincts like Monash University, Monash Health and CSIRO.
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