Lend Lease retail portfolio value up 6% in a year

Property developer Lend Lease’s retail portfolio increased in value by 6% over the six-month period to December 2011.

Over the six-month period, the portfolio increased in value from $4.84 billion to $5.13 billion.

The portfolio comprises 701,000 square metres of retail space.

Major purchases made this year include the Cairns Central Shopping Centre.

Lend Lease’s Australian Prime Property Fund acquired the far north Queensland shopping centre in its entirety after paying $261 million to buy the 50% share held by joint owner Westfield.

The largest asset it manages in the portfolio is the 112,000-square-metre Erina Fair on the New South Wales central coast.




Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer


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