Centuria Capital Limited
(ASX:CNI) has sold a Melbourne office for $82.1 million to an undisclosed buyer.
The property investor acquired 441 St Kilda Road for $58 million in 2012 and has since worked to reposition the physical asset and tenancy mix.
Centuria Capital undertook a significant upgrade to building services which it believes enabled it to attract quality tenants resulting in an attractive lease profile.
The sale of the property comes as the company announced the divestment of its non-core Over Fifty Insurance Business earlier this month.
Centuria Capital reported a net profit of $9 million in the 2014 financial year.
