Primewest (ASX:PWG) adds $92 million in assets with regional shopping centres

Company News

by Melissa Darmawan

Real estate funds management company Primewest Group (ASX:PWG) has added two regional shopping centres in Western Australia and Queensland to its list of retail assets under management for a combined value of $92 million.

The company has acquired the asset management rights from the M Group for Chester Pass Mall in regional Albany WA and Pialba Place in Hervey Bay in Queensland.

The two assets include tenants from Coles, Bunnings, Woolworths and Big W.

There is significant further development and leasing upside in both assets which will delivered in the short to medium term.

Shares in Primewest Group (ASX:PWG) are trading 1.6 per cent lower at $1.23