Growthpoint to find expansion of Woolworths SA centre

Company News

by Rachael Jones

Growthpoint Properties Australia (ASX:GOZ) will fund the expansion of Woolworths (ASX:WOW) South Australian head office and primary Distribution Centre for South Australia and the Northern Territory.

It is expected to cost around $57 million.

The expansion at Gepps Cross is expected to be completed by 2020.

As part of the overall transaction, Growthpoint has also agreed with Woolworths to an early surrender of a building lease in Victoria.

Shares in Growthpoint Properties Australia (ASX:GOZ) are trading 1.06 per cent lower at $3.72
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.