Ex-Hawk Chris Langford offloads Wheelers Hills’ Brandon Park shopping centre for $107.5m
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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.
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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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sarah.petty@news.com.au