Real estate fund manager EG has wound down its core plus fund with the sale of a significant retail asset in Brisbane to a major Perth-based private syndicator.
EG originally purchased the Northwest Plaza at Everton Park in north Brisbane from Consolidated Properties for $41.2 million.
The 9,489-square metre centre, on a 3-hectare site in Flockton Street, has now been sold for $42.5 million, with the real estate group closing its CPF1 fund, launched in 2014.
A private West Australian syndicate has purchased the asset.
Will this mean that we see a redevelopment of this suburban shopping centre?