Property play: Woolies extends warehouse lease derailing billionaire’s $155m deal

A $155 million deal for billionaire Harry Stamoulis’ Woolworths distribution center in Mulgrave has stalled as Woolworths exercised its lease extension. The 68,144 square meter site was set for redevelopment into a logistics center by Elanor Investors Group and PGIM Real Estate. The joint venture is now left to reassess its plans amid significant financial pressures.

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