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Cedar Woods Properties Provides Sale of Target Building

29 Jun 2017  |  10:20:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Sale of Target Building

Cedar Woods Properties announced that it has signed an agreement to sell the Target Australia headquarters building, currently under construction at its master planned community in Vic, Williams Landing, for $58.23m (GST excl). The purchaser, Centuria Property Funds, the Responsible Entity for Centuria Metropolitan Property Trust, was successful in securing the asset following a sale campaign. The Centuria Metropolitan Property Trust is a subsidiary trust of the ASX-listed Centuria Metropolitan REIT, a major investor in Australian metropolitan property assets. Under the terms of the sale, it will develop the Target headquarters building, with handover and settlement of the completed project expected in Q1 FY2019.

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