Friday, 21st December 2018

Victoria

Shopping Centre Sold to Real Estate Fund Manager (AFR)

• Keilor Central shopping centre (80 Taylors Road, Keilor Downs VIC 3038) in Melbourne has been dealt to Real estate fund manager Fort Street for a reported $113 million. The previous owners of the 19,700m² centre situated on 9.1ha were ASX listed Vicinity Centres. The centre was sold on close to full occupation on an initial yield of 6.3%

Stockland Continue to Sell (The Australian)

• Development mainstay Stockland has continued the remodelling of its portfolio with the sale of The Grove housing estate in Tarneit VIC 3029 to Singaporean-owned Frasers Property. The sale is reported to be $202.5 million for the project covering 167ha yielding 1,780 lots and is expected to be completed in 2021.

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