Shopping Centres Australasia Property Group Limited
(ASX:SCP) has bought a shopping centre south west of Sydney’s CBD for $48 million.
The real estate investment trust says the Clemton Park Shopping Village is a neighbourhood shopping centre to be anchored by a Coles supermarket.
The asset is located within an integrated mixed use project being developed by Australand in joint venture with LaSalle Investment Management.
Shopping Centres Australasia Property Group expects the centre to be complete in the second half of 2016.
Shopping Centres Australasia Property Group reported a net profit of $112 million in the full 2014 financial year.
