Penrith – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 25 May 2010 04:15:14 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Penrith – realestatesource https://www.realestatesource.com.au 32 32 Penrith’s Glenmore Park SC Sells For $40 Million https://www.realestatesource.com.au/penriths-glenmore-park-sc-sells-for-40-million/ Tue, 25 May 2010 04:15:14 +0000 http://realestatesource.com.au/wordpress/penriths-glenmore-park-sc-sells-for-40-million.html AMP Capital Investors has offloaded its Glenmore Park shopping centre near Penrith for a reported $40 million.

The purchasers, a family syndicate called Village Fair Group, plan to expand the centre to include a discount department store and about 30 specialty shops.

The 4.5 hectare site includes as tenants: Woolworths, McDonald's, ANZ and Australia Post.
]]> 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.

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