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GPT Group's GPT Wholesale Office Fund and GPT Wholesale Shopping Centre Fund enters into agreements


Monday, 6 Jan 2014 02:30am EST 

GPT Group:Says that GWOF and GWSCF have entered into binding memoranda of understanding with the Consortium and with CPPIB in relation to the acquisition of 750 Collins Street, Melbourne and 2 Southbank Boulevard, Melbourne and a further three office and retail assets.Says this is with a combined total value of approximately $1.2 billion.Says under the agreements, GWOF will acquire, subject to a number of conditions, the following assets: 750 Collins Street, Melbourne; 50 per cent of 2 Southbank Boulevard, Melbourne; 50 per cent of 10 Shelley Street, Sydney; and 655 Collins Street, Melbourne.Says the total purchase price of the four assets is $679 million.Says GWSCF can also acquire 50 per cent of Northland Shopping Centre in Melbourne for a purchase price of $505 million.Says the acquisition of the assets is subject to the Consortium reaching compulsory acquisition in its bid for CPA. 

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