Australian property manager Charter Hall has acquired a neighbourhood shopping centre in Melbourne for its unlisted convenience retail fund for A$210m (€119m).
The Burwood One Shopping Centre was acquired from a Hong Kong-based private investor by the A$2.5bn Charter Hall Convenience Retail Fund (CCRF).
Charter Hall Retail CEO, Ben Ellis, said: “Burwood One is a high-performing convenience-based sub-regional shopping centre. The site is well positioned for future growth, and future value add with development potential.
“The high-quality Burwood One and Southport Park assets perfectly represent our strategy of investing in dual and triple supermarket anchored convenience shopping centres in strong metropolitan locations, with expectations of solid capital growth.”
Also this week, CCRF acquired the Southport Park Shopping Centre in Queensland.
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