Marsden Park Shopping Centre Sold
The Directors of Marsden Park Retail Pty Ltd are pleased to advise that on 25th August 2014, the sale of Marsden Shopping Centre was successfully completed, with Queensland Investment Corporation (QIC) purchasing the property for $58,500,000.
The sales price achieved is a significant return on the asset’s book value of $42,621,861 (30th June 2014). The preliminary estimate of return to investors amounts to a distribution of 1.64 times of original investment and an internal rate of return of approximately 22%.
A final investor report will be provided shortly to Unitholders.
The result represents a very strong outcome for investor returns.