Business News

Woolworths’ ill-fated foray into Australia’s home hardware market will come to an end on December 11, with the retail giant’s hardware stores to be sold and turned into large format retail hubs.

German supermarket giant Aldi will exit the Gold Coast’s Easy T shopping centre this month after owner Clarence Property signed an independent IGA operator to a 15-year lease.

Perth syndicate Kerching Capital has picked up its third IGA-anchored shopping centre in Queensland, buying Sandstone Village for $10.4 million.

One of China’s top building ­materials and homewares companies, China Lesso Group Holdings, is buying two sites in Sydney to build up a local operation that may see it take on Bunnings. This article originally appeared on theaustralian.com.au/property.

Commercial property group Dexus has more than doubled its full-year profit thanks to a sharp upward revaluation of its portfolio. This article originally appeared on theaustralian.com.au/property.

Shopping centre owner SCA Property Group has booked a $184.7 million net profit for 2016, and forecast that retail sales are expected to remain strong over the next year. This article originally appeared on theaustralian.com.au/property.

National Australia Bank is set to shake up another city leasing market as it weighs up moving from its Bourke St building in the central business district. This article originally appeared on theaustralian.com.au/property.

The value of office buildings in London’s main financial district fell in July, dragged down by economic unease following the UK’s vote to leave the European Union. This article originally appeared on theaustralian.com.au/property.

Macquarie Capital-backed property funds manager Logos has struck two major deals in Australia and China as it bulks up its $2 billion operation. This article originally appeared on theaustralian.com.au/property.