Capital Transactions negotiated the purchase of West Court Plaza for $26.2 million and entered into a Deed of Development with an Australian based Property Trust to create a new and vibrant centre in Cairns. The Coles Kmart based sub-regional Centre occupied an 8.15ha site and was in need of a major refurbishment and repositioning. Capital Transactions sought and obtained a DA on the site for a further 9,500m2 of additional space.
With Kmart looking to vacate the premises, Capital Transactions identified DFO as a suitable replacement capable of back filling the Kmart tenancy and also occupying the additional 9,500m2 NLA approved for the site.
Capital Transactions and the Trust sold the Centre to DFO for over $45 million.
