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Stockland’s 120% return on Karrinyup

PROPERTY group Stockland has sold its 25 per cent stake in the Karrinyup shopping centre for $152.5 million, more than doubling the value of its original investment. Stockland paid $69 million for its stake in Karrinyup, which was acquired as part of its acquisition of the AMP Diversified Property Trust in 2003. The sale represents a return of 121 per cent on its fouryear investment, and values the entire shopping centre at $610 million. This Week’s Issues features the past week’s key news stories from WA Business News’ email news service. If you’d like this sort of news in your inbox each afternoon, just sign up for our free daily email at www. wabusinessnews.com.au/dailybusinessalerts or visit our website and follow the links.

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