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Frasers-Sekisui JV closes A$175M sale of 3 retail assets in A$2B Sydney project

A joint venture between the respective Australian arms of Frasers Property Ltd. and Sekisui House Ltd. completed the A$174.5 million sale of three freehold retail properties in Sydney to a consortium comprising Fortius Funds Management Pty. Ltd. and SC Capital Partners Group.

The Central Park Mall, Duo Retail and the Park Lane Retail properties form part of the A$2 billion Central Park integrated development in the city's central business district. The properties have a gross lettable area of 14,600 square meters and are home to a Woolworths supermarket and a Palace Cinema complex.

Colliers International brokered the deal, Frasers Property Australia Pty. Ltd. and Sekisui House Australia Pty. Ltd. said in an Oct. 10 news release.