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The Carindale Property Trust (ASX:CDP) announced the first stage opening of its $300 million redevelopment at Westfield Carindale in Brisbane.
The trust has a 50 per cent stake in the centre and says the development remains on track for completion later this year.
The second stage opening is planned for the third quarter. The expected yield remains unchanged at 7-7.5 per cent.
The Carindale Property Trust generated a net profit of $3.1 million in the six months to December 31 2011.
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