Charter Hall Retail REIT
(ASX:CQR) has bought the former Brickworks site in Adelaide for $7.55 million from retailing giant Woolworths Limited
(ASX:WOW).
The real estate investment trust has purchased the land with its domestic institutional partner know as Charter Hall Retail Partnership No.1.
The land is the future site of Brickworks Marketplace, a shopping centre to be constructed by Woolies with an estimated on-completion value of $75 million.
Brickworks Marketplace is slated for completion mid next year and will be anchored by a Woolworths supermarket, BIG W and Dan Murphy’s.
Charter Hall Retail REIT reported a net profit of $85.2 million in the 2014 financial year.
