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DWPF acquires Perth CBD retail mall

DEXUS Wholesale Property Fund (DWPF) exchanged conditional contracts to acquire Carillon City, a CBD retail mall, located in the core retail precinct of the Perth CBD.

The property has been acquired for $140 million (excluding acquisition costs), with settlement expected to occur on 30 November 2016.

Carillon City is strategically located with frontages to both the Hay Street and Murray Street malls combined with linkages to Forrest Chase, St Georges Terrace and Perth Railway Station. The centre comprises 10,700m2 of retail space across four floors, with 108 tenancies including Topshop Topman, Priceline and The Reject Shop.
Michael Sheffield, DWPF Fund Manager said, “The property represents a value add opportunity that provides exposure to the tightly held Perth city retail market and is the Fund’s first retail investment in Western Australia. The acquisition fits well with DWPF’s strategy and enhances the retail portfolio by diversifying across a range of shopping centre types and markets.”

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