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Written by Marc Pallisco
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Tuesday, 25 May 2010 00:27 |
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 MIRVAC Group has made $29.5 million from the sale of its Chester Square shopping centre in Sydney's west.
The Chester Hill sale follows that last month of the Moonee Beach Shopping Centre, on the NSW north coast to the listed Gowing Brothers for $12.5 million.
The company has also sold its Kwinana Hub shopping centre in Perth for $25 million.
Mirvac is also trying to sell Queensland's Morayfield Supa Centre, which it acquired with Chester Square, when it took over its listed satellite Mirvac Real Estate Investment Trust.
Chester Square measures 8299 square metres of enclosed space and is anchored by a Woolworths. It includes 28 specialty shops.
The sale price reflects a yield of about 8.5 per cent, according to the AFR which reported the sale.
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