Shopping Centres Australasia Property Group (ASX:SCP) buy a NSW shopping centre

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Shopping Centres Australasia Property Group (ASX:SCP) has agreed to buy Auburn Central Shopping Centre in New South Wales for $129.5 million.

The purchase was from Elanor Retail Property Fund (ASX:ERF) with an implied fully let yield of 6.0 per cent.

Auburn Central is anchored by Woolworths, Aldi and Tong Li supermarkets, with 52 specialty tenants heavily weighted to non-discretionary categories.

Shares in Shopping Centres Australasia Property Group (ASX:SCP) are trading 1.6 per cent lower at $2.43.
 
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Source: Finance News Network