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HomeNewsInternational NewsPAG to buy Midland Gate Shopping Centre for $465M

PAG to buy Midland Gate Shopping Centre for $465M

The Midland Gate shopping centre in Perth has attracted the interest of Hong Kong-based alternative investment firm PAG, which partnered with Australian property syndication company Fawkner Property to purchase the asset for about $465 million.

Commonwealth Bank Group Super and Vicinity Centre’s Retail Partnership, which equally own the shopping centre, have tapped CBRE’s Simon Rooney and Colliers’ Lachlan MacGillivray to sell the property amid fears that lower consumer spending may impact retailers.

The shopping centre has a gross lettable area of 68,600sqm and is home to Coles, Woolworths and Aldi supermarkets and Kmart, Big W and Target discount department stores. It also houses an eight-screen Ace Cinemas complex.

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