11/01/2005 - 21:00

Top dollar paid for Whitford City

11/01/2005 - 21:00

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WESTFIELD’S purchase of a half-share in Whitford City Shopping Centre for $192.5 million ranks as the largest property sale in Western Australia for 2004.

Top dollar paid for Whitford City

WESTFIELD’S purchase of a half-share in Whitford City Shopping Centre for $192.5 million ranks as the largest property sale in Western Australia for 2004.

The sale had major ramifications for Whitford City management group FBDSavills and Lease Equity.

Both companies were forced to step aside due to the transaction, after managing the $80 million rede-velopment of the centre.

The purchase also grew Westfield’s holdings in WA, which already includes the Westfield Carousel and Innaloo complexes.

The Innaloo centre is undergoing a major redevelopment.

The Whitford City half share was sold by Deutsche Bank’s Deutsche Diversified Trust. The trust also sold half shares in its Plenty Valley Town Centre in Melbourne and Lakes Mall in Adelaide to Westfield in order to clear the way for the merger of its three Australian entities, which includes Deutsche Industry Trust and Deutsche Diversified Trust into a $3.5 billion single entity.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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