Centro MCS has completed the sale of Centro Kincumber for $21,400,000. The entire net proceeds from this sale were used to repay debt. The centre was sold at a 3% discount to the 31 December 2008 book value, which we feel is a good result in the current market.
We continue to market other properties in the Syndicate for sale. Although we have not yet achieved an unconditional contract for any other property, there is strong interest in at least one of the assets.