Vicinity Centres banks $631 million from sale of 11 shopping centres across Australia
Vicinity Centres has sold 11 shopping centres spread across Victoria, New South Wales, Queensland and Western Australia, for a total of $631 million.
One asset, the Belmont Village shopping centre in Geelong, and worth $58 million, sold in a deal which settled last month to a Sydney-based investor, the Geelong Advertiser reports.
Ten more assets sold to Shopping Centre Australasia Group, which was created by Woolworths Limited, for $573 million. These include:
• Bentons Square at 210 Dunns Road, Mornington, Victoria
• The Gateway at 230 Cranbourne-Frankston Road, Langwarrin, Victoria
• Lavington Square at 351 Griffith Road, Lavington, New South Wales
• West End Plaza at 487 Kiewa Street, Albury, New South Wales
• North Shore Village at Menzies Drive, 722-728 David Low Way, Pacific Paradise, Queensland
• Oxenford Village at 2 Cottonwood Place, Oxenford, Queensland
• Currambine Central at 1244 Marmion Avenue, Currambine, Western Australia
• Kalamunda Central at 39 Railway Parade, Kalamunda, Western Australia
• Stirlings Central at 54 Sandford Street, Geraldton Western Australia
• Warnbro Centre at 206 Warnbro SoundAvenue, Warnbro
Vicinity Centres announced four months ago that it planned to divest of non-core assets and free up about $1 billion of capital. Three more assets are close to sale, according to CEO Grant Kelly.
Following the portfolio sale, Vicinity Centres will control about 50 shopping centres.
