Lendlease’s Australian Prime Property Fund Retail (APPF Retail) has exchanged contracts for the sale of its 50 percent interests in Lakeside Joondalup and Westfield Carindale to Cbus Property for approximately A$1.3 billion ($917 million). Lakeside Joondalup and Westfield Carindale are among Australia’s leading super-regional shopping centers and will further strengthen Cbus Property’s growing retail portfolio to span New South Wales, Queensland and Western Australia.
The transaction reflects continued confidence in the fundamentals of Australia’s retail sector, with high-quality assets benefiting from resilient consumer demand, strong retailer performance and growing investor appetite for well-located, dominant shopping centers.
Located in Perth’s northern growth corridor, Lakeside Joondalup is one of Western Australia’s leading regional shopping centers, serving a strong and growing catchment. The center offers a diverse retail, dining and lifestyle exper
