Federation Centres Limited
(ASX:FDC) has tied up the $74 million purchase of Currambine Central shopping centre in Western Australia.
The real estate investment trust purchased the asset from private property group White and Partners, the investment arm of the family owned Ray White Group.
The convenience shopping centre is located 30 kilometres north of Perth and includes a Woolworths Limited
(ASX:WOW) supermarket and 44 speciality retailers.
Federation Centres also plans to fund an expansion of the centre for $20 million which is expected to be completed by mid next year.
Federation Centres reported a net profit of $441 million in the 2014 financial year.
