Published 4:48 AM, 16 Jun 2011 Last update 4:48 AM, 16 Jun 2011
Property company Stockland and developer Lang Walker are on the verge of announcing Australia’s largest property deal since the global recession, through a deal that would see the exchange of more than $300 million in assets, according to a report by the Australian Financial Review.
If the deal goes through, it would see Stockland acquire Walker Corp’s Point Cook Town Centre and land on the edges of Melbourne, while Walker Corp would take control of Energex House in central Brisbane and Myuna Complex in Canberra.
In addition, Walker Corp would receive a significant cash payment to offset the estimated $200 million value of the Point Cook site and property.
The Point Cook property was put on the market by Mr Walker in January to generate capital for his $1.3 billion office and retail development at Docklands, according to the AFR.