By a staff reporter
Mirvac Group Ltd has sold two regional malls in New South Wales and Victoria for $100 million and acquired new commercial and residential assets in Victoria and Western Australia.
In a statement to the Australian Securities Exchange, the property group said it had completed the sale of the Gippsland Centre in Sale, Victoria for $55 million, and the Orange City Centre in NSW for $49.5 million.
Mirvac has also acquired a 113,000 square metre industrial site at Eastern Creek, NSW, for $55 million, with plans to develop it into industrial business park, and a 30-hectare, prime residential development site in Baldivis, south west of Perth, for $10.7 million.
The group said it expected the residential site to contribute earnings in fiscal 2016, subject to planning approvals.
Mirvac has already made $232.6 million in sales in the 2014 financial year to date as part its "non-core disposal program".