Smart Company has the news that Canberra’s DFO is up for sale.
The DFO outlet in Canberra has been put up for sale by receiver McGrath Nicol as fallout from Austexx and its financial troubles continue to ripple through the industry.
The centre was placed in receivership last month with the Canberra’s Direct Factory Outlet and Homemaker Hub now for sale, with McGrath Nicol receiving expressions of interest.
Janes Lang LaSalle is in charge of the sale process according to the Australian Financial Review.
The development comes after months of legal battles and complicated debt deals, after property developer Austexx was forced to sell off assets as it faced nearly $US1 billion in debt and a possible collapse in 2010.
McGrath Nicol was contacted by SmartCompany this morning but a reply was not available prior to publication.
The Canberra DFO and Homemaker outlets were built in 2008, contain more than 100 fashion tenants, 24 homemaker stores and more than 1,800 car spaces. It is understood that the centre continues to operate as usual.
“I would like to assure tenants, customers and centre management employees that our appointment allows DFO Canberra and Homemaker Hub Complex to continue to operate while we run an orderly sale campaign,” Shane O’Keeffe of McGrath Nicol told the AFR.
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