Centro, Stockland sell assets in Victoria and Queensland From: The Australian March 11, 2010 12:00AM
TWO listed property companies -- Centro Properties Group and Stockland -- have sold assets in Victoria and Queensland together worth $57.5 million.
It is understood Centro Properties Group has sold its Centro Nerang shopping centre for about $30m.
Savills, the agency appointed to sell the asset, declined to comment yesterday.
Meanwhile, Stockland has made a loss of $800,000 on its St Kilda Road apartment development site, which has been sold for $27.5m.
The site, which has planning approval for 258 apartments, was sold to private developers in two separate transactions.
Stockland chief executive residential, Mark Hunter, said the sale was in line with the company's strategy to progressively sell its apartment development sites.
Apartment projects under way would be kept until completion, he said.
Stockland acquired the St Kilda Road site in January 2008 for $28.3m.
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