Growthpoint signs new leases with Country Road Group

Company News

by Jessica Ellerm

 
Growthpoint Properties Australia (ASX:GOZ) has announced it has entered into two new leases with the David Jones backed Country Road Group.
 
The leases are for two adjacent buildings in Richmond, Melbourne and comprise a total of 23,156 square metres.
 
The two leases have a weighted average lease term of 14.5 years.
 
The properties will serve as the national head offices for David Jones and Country Road Group, with David Jones relocating its existing headquarters from Sydney to Melbourne.
 
Growthpoint Properties Australia reported a net profit of $125.8 million at 31 December 2015.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.