FCT takes full control of Northpoint City South Wing
The agreed property value was $1.1b.
Frasers Centrepoint Trust (FCT) has acquired a 100% interest in North Gem Trust, resulting in full ownership of the Northpoint City South Wing.
The agreed property value was $1.1b, based on the average of two independent valuations.
FCT paid approximately $375.2m in cash for the acquisition, subject to completion adjustments.