GPT Group to Acquire 50% Stake in Two Western Australia Shopping Centers

MT Newswires Live

2024/12/13

Property investment company GPT Group (ASX:GPT) will acquire Perron Group's 50% interest in the Cockburn Gateway and Belmont Forum shopping centers in Western Australia for about AU$482 million, according to a Friday filing with the Australian bourse.

The two properties provide a combined moving annual turnover of over AU$1 billion, the filing said.

The transaction is anticipated to be completed in February 2025, according to the filing.

Price (AUD): $4.46, Change: $-0.02, Percent Change: -0.45%

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