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Sydney sub-regional shopping centre Fairfield Forum sells for AUD 32 million
SYDNEY, 15 MARCH 2013 – Fairfield Forum, a Sydney metropolitan-based sub-regional shopping centre, has been sold by Simon Rooney and Luke Harris of Jones Lang LaSalle on behalf of ISPT Pty Ltd to Harrington Property Group for AUD 32 million at an initial passing yield of 9.43%. The sale follows a competitive Expressions of Interest campaign.
Following on from Federation Centre’s sale of a 50% share in four sub-regional assets and one convenience centre to ISPT for AUD 371.4 million, the sale of Fairfield Forum brings the total investment into sub-regional shopping centres for Q1 2013 to AUD 546 million.
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