Homebush. DFO sold

CFS Retail Property Trust has acquired the DFO Homebush outlet and three in Victoria, from Austexx, for $498 million to be funded through a new equity sale. Retailers sold $200 million – or $11,400 per square metre – worth of stock last in the DFO Homebush, which operates in an old industrial building opposite the Sydney Olympic Park precinct.

Homebush. DFO could be sold

CFS Retail Property Trust is negotiating to buy half of the Direct Factory Outlet retail business, which has its flagship outlet at Homebush, in a $500 million deal to be funded through a fully underwritten capital raising by Goldman Sachs and Macquarie Capital. The $7.7 billion CFS Retail Property Trust owns high-profile luxury mall Chatswood Chase and the giant Chadstone shopping centre in Melbourne.

Homebush. Collapse could affect DFO outlet

A key part of the DFO retailing empire has been crushed by up to $550 million in debt, throwing into doubt the future of the entire factory outlet chain. Banks are likely to appoint receivers Korda Mentha as early as today to South Wharf Retail, which owns South Wharf DFO in Melbourne.The collapse threatens to drag down seven other DFO stores, including the Homebush store, and a developer, Austexx. The stores and Austexx have guaranteed SouthWharf Retail's debts.

Homebush. DFO could be sold overseas

British-based Pradera Asset Management is believed to be the frontrunner to buy the $1.5 billion Direct Factory Outlets portfolio, including the Homebush DFO, the location of the company’s only NSW outlet which retails over 90 leading Australian and international brands. Consortia led by Australian institutional investors Lend Lease and Colonial First State were also in the running DFO is owned by Melbourne-based Austexx.