Scentre Group announces sale of Casey Central
Scentre Group today announced the sale of Casey Central in Victoria, with proceeds of $221 million.
Casey Central has been sold to M&G Real Estate Asia with completion of the transaction due in the first quarter of 2017.
The sale of Casey Central reflects a core capitalisation rate of 5.25% and a premium to book value.
Scentre Group acquired its initial interest in the centre in 2006. In March 2016 the Group transformed the centre with a $155 million redevelopment which saw it become the key neighbourhood retail destination in Melbourne’s south-eastern growth corridor, with the completed centre featuring 98 retailers including Coles, and a new Target, Aldi and Woolworths.
For more information contact Scentre Group Corporate Affairs:
Julia Clarke +61 2 9358 7426
We acknowledge the Traditional Owners and communities of the lands on which our business operates.
—We pay our respect to Aboriginal and Torres Strait Islander cultures and to their Elders past and present.
—We recognise the unique role of Māori as Tangata Whenua of Aotearoa/New Zealand.
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