Mirvac Group has announced it has acquired the balance of East Village in Zetland and has entered into an agreement to acquire the proposed South Village Shopping Centre in Kirrawee from PAYCE Consolidated.
Commenting on the transactions, Mirvac’s CEO and Managing Director, Susan Lloyd-Hurwitz, said, “These off-market transactions reflect our ambition to increase our urban footprint in catchments with strong market fundamentals.
“East Village in particular has proven to be an exceptional asset, delivering sales productivity of $14,950/m2 after less than three years of trade, and ranking No.1 in the Shopping Centre News’ Little Guns in its first year of entry.
Moving annual turnover is also growing strongly at approximately 8% per annum.”
Mirvac and PAYCE maintain a strong and collaborative relationship, and continue to explore opportunities to work together in the future.
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