Last chance to buy ACT's $100m DFO

Last chance to buy ACT's $100m DFO

CANBERRA'S Direct Factory Outlet and Homemaker Hub could be sold within weeks, with expressions of interest for the shopping centre to close on Thursday.

The Fyshwick outlet was put on the market by McGrath Nicol last month, after initially being placed in receivership in March.

There is no reserve for the 45,300 square metre property, but reports estimate a price of $100 million. Under expressions of interest sale, interested parties submit bids on a set date.

The agent, Jones Lang LaSalle, then proceed to a shortlist or transact with the leading party.

Simon Rooney, of Jones Lang LaSalle, said the swift process could see contracts executed within weeks.


He said the property had attracted strong interest from both private investors and institutional parties.

Built in 2008, the centre boasts space for 100 fashion shops, 24 homemaker stores and a 1800-space car park.

Mr Rooney said the uncertain future had not impacted on trade and denied some stores had relocated.

''It's doing quite well, it's been a very resilient asset,'' Mr Rooney said.

''It's performance hasn't really changed over the past three years, but the foot traffic is starting to increase and it's trading quite well.''

The sale is the most recent event in a long-running saga involving DFO Canberra parent company Austexx.

Austexx almost collapsed under more than $1 billion in debt in 2010, narrowly surviving by offloading four DFO properties for $574.5 million.

The Fyshwick centre is the ninth DFO outlet placed on the market, with DFO Spencer Street, DFO Jindalee, DFO Brisbane Airport and DFO Cairns also for sale.

The turmoil led to a high-profile split and legal dispute between Austexx's owners David Goldberger and David Wieland, and high-profile investor Graeme Samuel, the former head of the Australian Competition and Consumer Commission.

In December, following a protracted legal battle, Mr Samuel won access to $5 million in frozen funds held in his family trust.

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