Centuria sells property for $270 million

Company News

by Kathy Skantzos

Centuria (ASX:CNI) has announced its wholly-owned subsidiary Centuria Property Funds has sold an entity for more than $270 million.

The Sydney property was purchased for $91 million in 2013 and was 20 per cent vacant at the time.

The property was included as a core growth precinct in the 2006 draft City of Sydney planning strategy.

Centuria Property Funds will earn a performance fee of $25.8 million as a result of the sale, exceeding its FY2018 forecast.

As a result, Centuria has revised its FY2018 operating EPS guidance from 10.7 cents to a range of 16.5 and 17 cents per stapled security.

Shares in Centuria (ASX:CNI) last traded 1.1 per cent lower to $1.35.
 

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