28/09/2021 - 17:25

BGC sells Claremont apartments

28/09/2021 - 17:25

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BGC Australia has sold a property on Stirling Highway in Claremont, as it continues its divestment of land assets.

BGC's offices in Perth.

BGC Australia has sold a property on Stirling Highway in Claremont, as it continues its divestment of land assets.

Business News understands that Buckeridge Properties, part of BGC, sold 230 Stirling Highway – a 47 lot apartment complex – for $8 million.

There are no details of the buyer.

This follows BGC’s recent sale of a portfolio of Perth apartments to Aspen Group, who invested $52 million on buying and refurbishing the 17 properties.

In early 2019, BGC sold Perth’s The Westin to YTL Corporation for an undisclosed sum.

In 2018 BGC sold the Aloft hotel and adjoining office building for $100 million to Singaporean Group Meteorite Land.

BGC CEO Daniel Cooper said the company was continuing to “divest surplus property assets in a staged and orderly manner” aligning with its strategy announced in 2019.

“(This allows) the Group to focus on leveraging its core, vertically-integrated building materials and residential construction operations, and further cementing its position as Western Australia's leading homebuilder,” he added.

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