The biggest ever shake-up of the $65 billion large format retail sector, Home Consortium's agreement to buy the Masters property portfolio for $725 million, claimed its first big casualty on Friday.
Shares in $2 billion BWP Trust, the country's biggest owner of Bunnings Warehouses, fell heavily after it revealed that the Wesfarmers-owned DIY giant would vacate up to seven of its warehouses and occupy Home Consortium's Masters sites instead.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
