Centro to sell shopping centre in Bankstown

Centro Properties Group intends to sell four shopping centres including the Centro Bankstown, in which the company has a 100 per cent freehold interest. Centro has a 50 per cent unencumbered interest in one centre in South Australia and two centres in Western Australia. The condition is that Centro remains manager of the properties.

Ten apartments sold a month

Crown International Holdings Group expects to sell all of its 242 apartments in the 16-storey Gallery by Crown building, in Cowper Street, Harris Park, by the time it is completed. He company has focussed on the Chinese, Indian and Korean communities. The average price for a 2-bedroom unit is $450,000. The company says its is achieving 10 sales a month. The first stage should be finished by March 2009. Meanwhile, at Newington, the company will reork a Mirvac proposal to deliver 183 apartments and strata-title retail space, with a gross realisation of close to $120 million, Sales are between $450,000 to $480,000 for a two-bedroom apartment, according to The Australian Financial Review.