A fund backed by Singaporean property group Metro Holdings continues to deepen its presence across its key markets of Australia and the United Kingdom.
It acquired its 17th property in Australia, Shepparton Marketplace in Victoria, with its joint venture partner, the Sim Lian Group, for A$92 million ($60 million).
“The Shepparton Marketplace acquisition marks the continued diversification for resilience of our Australian portfolio so that Metro can grow stronger, reach further and scale higher,” said Yip Hoong Mun, CEO.
Shepparton is a freehold property with a total gross lettable area of approximately 16,535 square meters (177,981 square feet). It is located approximately 190 kilometers (118 miles) north of Melbourne CBD, on the main arterial, 110-120 Benalla Road, 2 kilometers (1.2 miles) east of Shepparton town center and at the heart of Benalla Road retail precinct. Shepparton is anchored by Big W discount department store, Woolworths supermarket, 36 spe
