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Shopping Centres Australasia Property Group Announces Acquisition of Marketown Newcastle

16 Jun 2021  |  14:52:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisition of Marketown Newcastle

Shopping Centres Australasia Property Group announced that the Company has agreed to acquire Marketown in Newcastle, NSW from AMP Capital Investors for $150.5m, an initial passing yield of 5.6% and an implied fully let yield of 6.1%. Marketown consisted of two centres, East and West. The East centre is anchored by Woolworths, Big W and Dan Murphy's and has 28 specialty stores. The West centre is anchored by Coles and Officeworks and also has 28 specialty stores.

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