Central Park Retail sold for $174.5 million
Frasers Property Australia and Sekisui House Australia, the joint venture partners behind the award-winning $2 billion Central Park in the Sydney CBD, have sold and settled its last three retail assets to a consortium comprising Fortius Funds Management and SC Capital Partners Group on behalf of its Recap V Fund, for $174.5 million.
The assets are Central Park Mall, DUO Retail and Park Lane Retail, which have a combined GLA of 14,600sqm.
The sale is the final component of the partnership’s divestment strategy as its flagship 12-year Central Park development nears completion.
Internationally acclaimed for its vertical gardens and heliostat, the development has transformed a former brewery site into a vibrant mixed-use precinct featuring retail, commercial, hotel, education, student accommodation and residential and entertainment sites.
Central Park Mall, the largest of the three assets, opened in late 2013 and is anchored by a Woolworths supermarket and Palace Central cinema complex.
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