Lendlease offloads centre for $136m to DeGroup
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Private investor Colin DeLutisâ DeGroup has added to its growing shopping centre portfolio after buying Lendleaseâs Caroline Springs mall in a $136.5 million deal.
The purchase of CS Square, a 25,308 square metre hub with three supermarkets and discount department stores, on a yield of around 6 per cent sets a strong post-COVID benchmark for an asset class plagued by uncertainty.
CS Square, in Melbourneâs west, has three supermarkets. A Kmart is coming as well.
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Lendlease offloads centre for $136m to DeGroup smh.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smh.com.au Daily Mail and Mail on Sunday newspapers.