{"id":4443,"date":"2019-11-12T16:07:24","date_gmt":"2019-11-12T09:07:24","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4443"},"modified":"2021-06-04T14:44:53","modified_gmt":"2021-06-04T07:44:53","slug":"sph-reit-management-singapore-acquires-australian-mall","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/sph-reit-management-singapore-acquires-australian-mall\/","title":{"rendered":"Singaporean property investment trust acquires Australian mall for $460 million"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Currently the highest-priced shopping centre deal in South Australia<\/span><\/p>\n<figure id=\"attachment_4444\" aria-describedby=\"caption-attachment-4444\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-4444\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/11\/shutterstock_546883993.jpg\" alt=\"\" width=\"1000\" height=\"662\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/11\/shutterstock_546883993.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/11\/shutterstock_546883993-300x199.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/11\/shutterstock_546883993-768x508.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-4444\" class=\"wp-caption-text\">Woman shopping in a mall. SonpichitSalangsing\/Shutterstock<\/figcaption><\/figure>\n<p>SPH Reit Management, a Singaporean property investment trust, has acquired a 50 percent stake in Westfield Marion Shopping Centre in Australia for AUD670 million (USD460 million). <a href=\"https:\/\/www.dealstreetasia.com\/stories\/sph-reit-australia-mall-161855\/\" target=\"_blank\" rel=\"noopener noreferrer\">Deal Street Asia<\/a> reported that this could be the highest-priced shopping centre deal this year in South Australia.<\/p>\n<p>As the state\u2019s biggest and only super-regional shopping centre, Westfield Marion has attracted 13.5 million visitors annually, boasting a 99.3 percent occupancy. It is situated 13 kilometres southwest of Adelaide\u2019s Central Business District, encompassing 136,837 square metres of land area, with parking spaces for 5,549 vehicles.<\/p>\n<p>Most of its tenants are national retailers, including Aldi, Big W, Bunnings Warehouse, Coles, David Jones, Events, Harris Scarfe, Kmart, Myers, Target, and Woolworths.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/singapore-property-developer-biggest-co-living-space-syndey-australia\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: The biggest co-living space in Australia opens this November<\/strong><\/a><\/p>\n<p>Once the deal is finalised at the end of the year, the current co-owner of Westfield Marion Scentre Group Limited will be partnered with SPH Reit.<\/p>\n<p>The shopping centre\u2019s acquisition is part of SPH Reit\u2019s tactic to expand its retail portfolio in Asia Pacific. By the end of last year, they acquired a mall south of Sydney for AUD181.9 million.<\/p>\n<p>\u201cThe acquisition deepens SPH Reit\u2019s presence in the Australian market and follows on from our first asset acquisition of Figure Grove Shopping Centre in December 2018,\u201d said Susan Leng Mee Yin, SPH Reit Management CEO.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Currently the highest-priced shopping centre deal in South Australia<\/p>\n","protected":false},"author":9,"featured_media":20363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[149,563,110],"class_list":["post-4443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-australia","tag-property-acquisition","tag-singapore","news_country-australia","news_country-singapore","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Singaporean property investment trust acquires Australian mall for $460 million | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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