Woolworths has outlaid $180 million to buy a western Sydney mall, where it is the main tenant, as it vies with arch-rival Coles for control of the best supermarket sites around the country.
Leases for Woolworths and its discount department store Big W at Plumpton Marketplace have another 10 years to run, but there is no option to extend them.
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Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter. Email Campbell at campbell.kwan@afr.com
Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com