Australia’s biggest shopping centre owner, Scentre, which operates Westfield malls, is accelerating plans to divest interests in its properties as it pursues an ambitious development program including housing, completing a two-step $1.3 billion sale of stakes in one of Brisbane’s biggest malls.
On Friday, Scentre confirmed it has sold a quarter stake in Westfield Chermside to Dexus, another prominent ASX-listed property player, following a similar deal in July. Sold into separate Dexus-run funds, each 25 per cent stake was exchanged for $683 million, in line with book value.
Loading…
