03 August 2015
Federation Centres announces the sale of Lutwyche CityFederation Centres announces that it has entered into a conditional agreement to sell the Queensland convenience centre Lutwyche City to Abacus Property Group and Zenonos Group for $65 million.
Federation Centres Chief Executive Officer, Steven Sewell said: "The sale is part of our ongoing strategic review of the portfolio."
The sale price represents a 13.5% premium to book value. Settlement is expected to take place in late
October 2015. The sale is conditional on Foreign Investment Review Board approval.
Contact:
Media Investors
Brandon Phillips Penny Berger
+61 3 9236 6321 +61 2 8229 7760
brandon.phillips@vicinity.com.aupenny.berger@vicinity.com.au
Federation Centres (ASX:FDC) is one of Australia's leading retail property groups with over $22 billion in retail assets under management. For more information about Federation Centres, please visit www.federationcentres.com.au. For information about Novion Property Group, please visit www.novion.com.au.
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