Cairns Central SC Expected to Fetch $450 Million

TWO of Australia’s biggest property players, Westfield Group and Lend Lease (which controls the Australian Prime Property Fund), are planning to sell the Cairns Central shopping centre they own together.

The complex was at the centre of a legal dispute that Westfield and Lend Lease eventually took to court.

It includes about 180 stores including major tenants Myer, Target, Coles, Bi-Lo (which like Coles is part of the Wesfarmers Group) and a Birch, Carroll and Coyle cinema.

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