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Woolworths next strategic move?, page-22

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zipperlip

11,643 Posts.

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23/07/17

20:15

Post #: 26031264
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Originally posted by MStevensonAU ↑

A few points that may or may not answer some questions:
WOW set up a vehicle with Lowes called 'Hydrox'.
Hydrox was the entity that went into receivership when WOW decided to divest in the Masters project.
Hydrox was also the group who leased the properties from various landlords throughout the country.
Most WOW leases are 5 years, renewed at 5 years for 5 periods - 25 years.
I have seen a few 50 year terms when shopping centres have been sold in the past.
The renewals are just a formality usually where the landlords can renegotiate terms.
As part of the Masters divestment, Hydrox and WOW were responsible for selling the buildings on the Masters sites.
My understanding is that most of them were bought by the Chemist Warehouse group, some by Costco and Home Hardware and a handful were passed over to WOW.

Hopefully it helps.

Disclosure: I do work for WOW, but this information is freely available online and was heavily reported on in the past months / year.

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Much appreciated, thank you.

WOW Price at posting: $26.30 Sentiment: Buy Disclosure: Held
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