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?
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Hicks Real Estate Team
Hicks Real Estate is a Brisbane based, full-service real estate agency supporting buyers and sell as well as renters and property investors. With almost 20 years experience in the local market, we are the real estate experts you can rely upon.
