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