Region. Centres on the market

Centro has launched and off-market process to dispose of half stakes in its Roselands (61,471 square metres) and Bankstown (85,738 square metres) centres in a $450 million play, according to The Australian Financial Review. The two centres hold dominant-trading positions in densely populated Western Sydney markets, with keen tenant support and each has further development potential. The total book value of Bankstown is $557 million and $329 million for Roselands.

Bankstown. 'Big piece of real estate'

A development project exists for Centro’s Bankstown shopping centre, according to the company’s CEO, Steven Sewell. “The property is a very big piece of real estate in a fantastic location. It’s got an extraordinary high spend for speciality retailers. It has enormous traffic – about 16 million people each year go through the property,” he said.

Bankstown. Sale of interest in shopping centre

The Centro MCS 28 syndicate has agreed to sell its 50 per cent interest in the Centro Bankstown shopping centre. The other half is held by the Centro Australia Wholesale Fund, which has been actively marketing its stake. If a satisfactory sale price is achieved, the sale of the centre is expected to be finalised by late October.