mr terry is optimistic abt cnp outcome

Plaza plans put on hold as Centro battles debt
11 February 2008 - 4:03PM

CENTRO Property Group has put the brakes on plans to expand its Murray Bridge shopping centre.
The company confirmed the project had officially been put on hold on Friday following enquiries by The Standard. Centro chief operating officer Graham Terry said it could be up to a year before the project, which will include 20 new stores and 230 extra carparks, goes ahead.

“At this stage it’s on hold, but I have no doubt once Centro sorts its corporate issues out the project will go ahead,” Mr Terry said.

“I’m reasonably optimistic we’ll know in the short to medium term ... it should be within 12 months.”

Centro also announced on Friday it would suspend plans for a $100 million expansion of the Arndale Shopping Centre in Adelaide.

The multi-national company is struggling to settle a $4 billion debt resulting from a global credit squeeze.