Mirvac Group
(ASX:MGR) has sold two regional malls in New South Wales and Victoria for $100 million and bought new commercial and residential assets in Victoria and Western Australia.
The property group says it’s completed the sale of the Gippsland Centre in Sale, Victoria for $55 million, and the Orange City Centre in NSW for $49.5 million.
Mirvac has also acquired a 113,000 square metre industrial site at Eastern Creek, NSW, for $55 million, with plans to develop it into industrial business park, and a 30-hectare, residential development site in Baldivis, south west of Perth, for $10.7 million.
The group says it expected the residential site to contribute earnings in fiscal 2016, subject to planning approvals.
Mirvac delivered a net profit of $139.9 million in fiscal 2013.
