AMP Capital buys retail property and sales office
In separate deals in Australia, AMP Capital has purchased a mall in Victoria for A$154 million ($108 million) and sold an office in Melbourne for A$222 million ($162.4 million).
AMP Capital acquired Stud Park Shopping Centre in Victoria for A$154 million ($108 million). The sub-regional shopping center will be owned by investors in the Wholesale Australian Property Fund.
The 279,862-square-foot single-level sub-regional shopping center is located in Rowville, approximately 19 miles from Melbourne’s CBD. Rowville is a large and established suburb comprising a diverse mix of residential, community, industrial and business park uses. Major anchor tenants include Woolworths, Coles and Kmart, in addition to 58 specialty tenants and a council library. With over 1,500 car spaces, the buildings sit on approximately 11 hectares of land.
AMP Capital Shopping Centres will undertake the management of Stud Park Shopping Centre. The addition of Stud Park will