Harvey Norman

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Major mailing house and distribution company DMC - Direct Mail Corporation - has relocated to a new West Heidelberg location 600 metres away.
DMC moved to a 7,440 sqm industrial building at 26 Dougharty Road, West Heidelberg in a transaction negotiated by Gray Johnson. 
Their move has left a 2,100 sqm Richmond site available at 158 Murphy Street Richmond (pictured in title) vacant. 
The building, featuring an office component of 200 sqm has found a new tenant in the form of Harvey Norman 
Harvey Norman signed a sub tenancy for the two years and six months term that remained on the DMC lease. 
Gray Johnson agent Rory White said "the sub-lease is at an annual rental of $325,000 gross plus GST with fixed annual rental increases of 4 %”. 
Mr White says that Harvey Norman proposes to use the property as a bulky goods store and dispatch centre in support of their Richmond retail outlet at 479 Bridge Road. 
“The two properties are located either side of the Burnley Street - Bridge Road intersection and are diagonally roughly 600 metres apart” Mr White concluded.
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Harvey Norman sub-leases former DMC Richmond property 

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Harvey Norman has appointed Elders to sell its Coomboona dairies operation in Victoria.
<a href="https://www.realestate.com.au/property-dairy-vic-coomboona-7975514" target="_blank">Coomboona Dairies</a> is being marketed as one of Australia's most advanced dairy aggregations, "recognised for its modern purpose-built infrastructure and premium quality milking herd."
It has utilised some of the world's highest profile registered Holstein genetics. Situated in the renowned Goulburn Valley region, Coomboona Dairies comprises 1,816 hectares, north west of Shepparton in Victoria.
It is currently milking in the vicinity of 2,500 Holstein cows.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/9/cattle2.jpg" alt="">
The dairy boasts annual milk production in excess of 30 million litres.
The aggregation is offered as a whole or in two contiguous parcels being Coomboona Dairies, 1,356 hectares and Glen Goulburn, with 460 hectares.
Offers are due August 16.
Harvey Norman bought a 49.9 per cent of Coomboona Holdings in 2015 for $34 million, with partnership difficulties soon emerging.
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Harvey Norman list Coomboona Dairies

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Harvey Norman will be the most vulnerable of the ASX listed retailers to the housing downturn, Citi analysts Bryan Raymond and Craig Woolford have told clients.
It came in a 38-page report ranking the retailers the broker considers most exposed to a fall in house prices.The analysts point out that the housing cycle had already turned, but this is yet to be reflected in retailer share prices.
According to the broker, Harvey Norman and Wesfarmers are most exposed, with 39 per cent of Harvey Norman's group earnings driven by furniture and appliances and 40 per cent of Wesfarmers' earnings from hardware chain Bunnings.Metcash and JB Hi-Fi were high up the list, with 25 per cent of the wholesaler group's earnings from hardware businesses Mitre10 and Home Timber and Hardware.
About 18 per cent of JB Hi-Fi's earnings are in whitegoods following its Good Guys acquisition.
But Harvey was quick to denounce the report.
"I've been doing this for 50-odd years, and I've had this question only asked 20 to 30 times.
"There's not a lot of validity to it," Mr Harvey said, adding he tended not to read any broker reports, this one included.
"When the housing prices do go down a bit – and I don't know how much they are going to go down, my view is it will be very minimal – the population is still increasing at the moment by 300,000 a year. I'd much rather that than property prices go up and there's no extra people." Citi estimates that for every 1 per cent move in house prices, Harvey Norman's sales, earnings and share price increase by 4 per cent and Nick Scali by 6 per cent.
The broker says that hardware retailers are more protected than furniture retailers.
The broader market has a 1.8 per cent rise for every 1 per cent increase in housing prices, the broker said.
The broker considered the impact of the housing downturn in 2011 and 2012 on Harvey Norman's share price, suggesting it triggered an earnings fall, price earnings de-rating and share price decline. It suggested it was among the retailers that experienced significant average sale price declines in the television category.
Harvey said there was "no proof" that television sales were linked to housing prices.
"It's tied to technology a lot more than it is to housing downturns," he said. "That just shows people don't understand the industry."Citi has a "sell" recommendation on Harvey Norman.It values the company currency trading at $3.52 at $3.12 a share. The broker also argues that as Harvey Norman owns some 95 of its 195 Australian sites, that rental income could come under pressure.
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Citi says Harvey Norman will be hit hardest in the housing downturn

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The boss of Harvey Norman Ireland Blaine Callard has listed his Brisbane sub penthouse apartment.
Collard has listed in the sought after Admiralty Towers block where bought the unit in 2009.
Tavis Callard at Housian Property Agents is asking for offers over $2 million for the investment apartment.
Spanning 216 sqm, the sub penthouse apartment has four bedrooms, a fitted home office and views over the Brisbane River and Story Bridge.
Callard has been at Harvey Norman since 1995 holding a number of positions before becoming managing director of Harvey Norman Europe in 2006.
He took over the CEO role in Ireland in 2010.
This article first appeared in The Weekend Australian Mansions Australia section.
 
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Harvey Norman Ireland's Blaine Callard lists Brisbane sub penthouse

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An industrial site spanning 23,786sqm in the Brisbane suburb of MacGregor has been sold to retailer Harvey Norman.
The property, 572 and 588 Kessels Road, and features over 10,000sqm of existing NLA which is currently occupied by Asahi Beverages.
Matthew Frazer-Ryan and Anthony White of Colliers International negotiated the sale. White said the site is situated in a large format retail precinct with over 80 enquiries and multiple offers from high net worth investors and developers. 
“The strategic location of the site is vital for the future growth of their store footprint," he said.
"MacGregor is a strong performing precinct and Harvey Norman will work over the medium term towards a development outcome that will add even more diversity for customers in this precinct.
“Sites of this size with main road exposure and high level of existing infrastructure in place are increasingly rare throughout Brisbane, particularly as residential rezoning has been prevalent."
Harvey Norman plan to build a large format centre on the location.
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Harvey Norman

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