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Australia's GPT Group has announced a major retail property transaction through its GPT Wholesale Shopping Centre Fund, agreeing to acquire stakes in two large shopping centres from a Lendlease-managed retail property fund. The deal, valued at approximately AUD 1.2 billion (USD 849.12 million), includes a 50% interest in Sunshine Plaza in Queensland and a 50% interest in Macarthur Square in New South Wales. The acquisitions are being completed in line with independent valuations and reflect continued investor interest in high-quality retail assets despite evolving consumer and retail market dynamics.
Australia's GPT Group has announced plans to expand its retail property portfolio through its GPT Wholesale Shopping Centre Fund with the acquisition of stakes in two major shopping centres from the Lendlease-managed Australian Prime Property Fund – Retail.
Under the transaction, valued at AUD 1.2 billion (USD 849.12 million), the fund will acquire a 50% stake in Sunshine Plaza in Queensland for AUD 622 million and a 50% stake in Macarthur Square in New South Wales for AUD 568 million. The purchase price excludes transaction-related costs and is aligned with independent property valuations.
The acquisition strengthens GPT's presence in Australia's retail real estate sector, where institutional investors continue to focus on established shopping centres with strong catchment areas and stable tenant demand. Sunshine Plaza is one of Queensland's significant regional shopping destinations, while Macarthur Square is a key retail asset serving the growing south-west Sydney region.
The transaction comes as major property investors increasingly seek high-quality retail assets that can benefit from population growth, consumer spending and mixed-use development opportunities. Retail centres with strong occupancy levels and diversified tenant bases have continued to attract institutional capital despite broader changes in shopping behaviour.
GPT Group is one of Australia's largest listed property groups, with investments spanning retail, office and logistics assets. The GPT Wholesale Shopping Centre Fund has historically held interests in several major retail centres across the country, making the latest acquisition part of its broader portfolio expansion strategy.
Source Reuters
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