Centuria Capital Group (ASX:CNI) settles Paramatta office tower

Company News

by Rachael Jones

Centuria Capital Group (ASX:CNI) says their subsidiary, Centuria Property Funds has settled Parramatta office tower for $105.3 million, following the completion of the closed-ended fund’s five-year term.

2-10 Wentworth Street, Parramatta was acquired in December 2014 for $45.1 million.

The sale reflects current strength across the commercial transaction markets and Centuria’s focus on proactive management.

During the hold period, 90 per cent of the asset’s leases were re-set and rent levels significantly increased with an average uplift of 34 per cent.

Shares in Centuria Capital Group (ASX:CNI) are trading flat at $2.70.

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.