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Cromwell Property Group to sell Gold Coast centre to CorVal

Cromwell Property Group

The listed Cromwell Property Group has finalised a deal to sell the Bundall Corporate Centre on the Gold Coast to Sydney funds house CorVal Partners for $89 million (£68 million).

While Cromwell’s intentions towards take over target Investa Office Fund remain unclear the group had made a windfall on the Bundall complex.

The deal comes after Cromwell (CMW) lodged a planning application with Gold Coast Council in February for a $1 billion (£0.77 billion) multistage retail and residential masterplan.

Paul

The author Paul