centro to sell southport mall for 75m

Centro to sell Southport mall for $75m

Abstracted from The Australian Financial Review

Centro Properties Group announced the sale of its Centro Southport property for $A75 million on 13 May 2008. The shopping centre group said in a disclosure document posted to the US Securities & Exchange Commission that it now hoped to enter into an agreement of sale and would use the funds to repay "certain credit facilities". Gold Coast developer, Norm Rix, said he expressed an interest in purchasing the property ahead of its sale but was not offered a chance to bid. Rix said he may have been willing to pay more for the asset, but believes there is "a bit of cherry-picking going on"

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