Plans are in motion for a $350 to $400 million redevelopment of Booragoon’s Garden City shopping centre, after a complex multi-million dollar ownership swap between Westfield and AMP Capital.
THE number of Perth shopping centres changing hands this year has grown to six, with the conditional sale of Phoenix Shopping Centre for about $80 million; but there has been no progress on Westfield
Australia Post has failed to sell its General Post Office Building in Forrest Place and has, instead, reverted to trying to find tenants to fill the vacant retail space.
Centro Properties Group, which owns 19 shopping centres in WA, says the competitive market process it's initiated to determine the group's future might result in any of a range of results, ranging from asset sales to change of control of the group.
Debt-laden Centro Properties Group completed a long-term refinancing agreement with lenders today, delivering its lenders 90 per cent of the company's equity and reducing pressure for asset sales.
AT least four major shopping centres across Perth are poised for a change of ownership, including three of the Centro Properties Group's largest Western Australian assets.
THE rising value of Centro Properties Group’s assets in Western Australia has helped underpin a $1 billion increase in the total value of the group’s portfolio.
Melbourne-based Centro Properties Group has announced an agreement to acquire the Westpoint Corporation-linked Warnbro Fair Shopping Centre in Western Australia for $57 million.
24 Jul 2007
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