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architecture
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11Apr2000 |
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Centro buys Box Hill Central for A$50m,
Australia
Centro Properties has reached an agreement to purchase the Box Hill Central shopping centre - located in Melbourne, Australia - from Lustig & Moar for approximately A$50m (approx. US$30.04m). Centro Properties is expected to place the 24,000 sq ft shopping centre into its Centro Group trust, instead of the Prime Retail Trust. Market sources expect the acquisition to yield an investment return of 10 per cent. Annual rental income from the centre is forecasted at A$5.2m (approx. US$3.12). The purchase is subject to a due diligence period which will end this month.
For more information go to www.propertyanalyst.com
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Abstract from Australian Financial Review 07-Apr-00
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supplied by PMI-Asia.com |
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