Mt Ommaney Shopping Centre sold by AMP for $416 million

Mt Ommaney Shopping Centre sold by AMP for $416 million
Mt Ommaney Shopping Centre sold by AMP for $416 million

AMP Capital has sold the Mt Ommaney Shopping Centre in Brisbane for $416.25 million struck on a capitalisation rate of 6.25%.

It was bought by a joint venture between Federation Centres and US-based TIAA Henderson Real Estate for $416.25 million.

The purchase marks TIAA Henderson Real Estate’s first foray into retail property in Australia.

With over $18 billion in assets, TIAA Henderson Real Estate will own 75% and Federation Centres will own 25%, as well as provide ongoing property ­management.

AMP’s Australian Core Property Portfolio sold the 2010-redeveloped 57,000-square-metre centre having acquired it in 1980.  

Colliers International’s Lachlan MacGillivray negotiated the sale.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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