Just noticed this update on Centro website. Should give us some confidence that GR is not prepared to give away assets, and the lenders are obviously not forcing them to accept low ball offers.
http://www.centro.com.au/NR/rdonlyres/7C15EF37-5A2B-418C-B0F6-7BCD5D9919C7/0/CMCS28.pdf
Centro MCS 28 – Update on Marketing of Centro Bankstown for Sale
I write to you on behalf of CPT Manager Limited, the Responsible Entity (RE) of Centro MCS 28, ARSN 103 353 055 (Syndicate).
As advised in correspondence mailed to investors on 3 July 2008, the Syndicate’s 50% interest in Centro Bankstown was marketed for sale in a national advertising campaign which closed in August 2008.
No satisfactory offers were received through this process and therefore, the Syndicate’s interest in the property will not be sold at this time. Should an acceptable
offer be received at some time in the future, the RE may consider selling the property.
bankstown update
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