Penrith’s Glenmore Park SC Sells For $40 Million
The sale price was $36 million, with an additional $4 million being for an adjacent development site, according to the AFR.
Based on the property’s annual rent of $2.8 million, the centre sold on a yield of 8 per cent.
AMP’s Property Income Fund, which sold the asset, was due to wrap up in June next year. It had also planned to expand the shopping centre.
