MA Financial sells Wollongong mall
MA Financial has sold another investment seized with its takeover of IP Generation last year.
Corrimal Village near Wollongong collected $103 million – a 5.13 per cent yield.
On 3.06 hectares, it contains 9760 square metres anchored to Woolworths which has a turnover rent mechanism.
There are also 33 specialties.
IP, on behalf of unitholders, picked it up in 2021 as part of a $300m portfolio of six NSW properties, from Sydney Roosters chairman Paul Lederer.
Colliers’ James Wilson was the agent.
The deal comes a month since we reported MA sold another mall acquired with its IP takeover, at Mildura, for $130m.
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