Growthpoint to develop Melbourne office building | Finance News Network

Growthpoint to develop Melbourne office building

Company News

Growthpoint Properties Australia (ASX:GOZ) has announced it has entered into transaction documents for a joint venture between Frasers Property and Commerical & Industrial Property, for the acquisition of land and development of an office building.
 
The building, to be known as Building C, is located at 211 Wellington Road, Mulgrave, Victoria.
 
The property will comprise a five storey building, with a five level car park with almost six hundred spaces. 
 
The total cost will be around $51 million.
 
Growthpoint Properties reported a net profit of $283 million at 30 June.