Aveo Group sells Gasworks Plaza for $248.4M

Company News

by Jessica Ellerm

Aveo Group (ASX:AOG) has announced it has sold shopping centre Gasworks Plaza in Brisbane for $248.4 million.

The retirement community manager sold the property to AMP Capital after a competitive process.

The sale will generate a surplus of $61 million for the group, equal to an increase in net tangible assets per security of 11 cents.

The sale of Gasworks comes on the eve of the completion of Aveo Newstead, a 19-storey retirement living tower and part of the Gasworks urban renewal project.

Shares in Aveo Group (ASX:AOG) closed 0.39 per cent lower yesterday at $2.57.

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