Stockland sell two malls for $143 million

Company News

by Rachael Jones

Property development company Stockland (ASX:SGP) has found private investors to buy the Stockland Cleveland shopping centre and the Toowong retail and commercial centre in Brisbane.

The centres will go for a combined price of $143 million.

The company is on track to hit their $400 million target of divestments over two years.

Both transactions are expected to settle by 30 June 2019.

Shares in Stockland (ASX:SGP) are trading 0.14 per cent higher to $3.71 

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.