COMMERCIAL PROPERTY, RETAIL | Staff Reporter, Singapore

Frasers Property arm to sell three Australian retail assets

Central Park Retail is expected to transact in excess of $170m.

Frasers Property’s Australian arm and Sekisui House’s final three retail assets in mixed-use Central Park development in Sydney’s Central Business District (CBD) downtown precinct will be offered for sale in one line, an announcement revealed.

With the flagship 12-year project now nearing completion, the joint venture will divest the remaining three retail assets, dubbed as the Central Park Retail comprising Central Park Mall, DUO Retail (eight retail outlets) and Park Lane Retail (six retail outlets), in one line. The transaction is said to be the final component of the partnership’s divestment strategy.

According to the statement, the joint venture partners have transformed Central Park, a former brewery site into a mixed-use precinct with retail, commercial, hotel, education, student accommodation and residential uses.

Colliers International’s Head of Retail Investment Services, Lachlan MacGillivray, has been appointed to sell the CBD retail assets via an International Expressions of Interest campaign commencing in early May. Central Park Retail is expected to transact in excess of $170m. 

Photo from Central Park Mall Sydney.

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