14 June 2003
Westfield Trust went unconditional on Tuesday in its $A1.80/unit bid for AMP Shopping Centre Trust and by the end of trading on Thursday had picked up 79.3% of the units. Westfield entered the fray as Centro Property Group struggled with its bid and the possibility that AMP Life Ltd would take 5 centres out of the trust. Westfield will sell 3 of the 9 AMP centres to Centro. AMP Life and Centro both offered their units to Westfield on Thursday.
Brisbane City Council has agreed to sell its leasehold 21-storey 7073mÂ² administration centre and City Plaza site to a consortium of Ariadne Australia Ltd (40%), Seymour Group Pty Ltd (40%) & Watpac Ltd (20%) for $A37 million. Settlement will take place on vacant possession in November 2005. The council plans to move its operations across the street to a 38-storey development which Suncorp will develop.