Aerial image of the Redyard property (4.6 hectares) with the newly acquired Telstra site clearly outlined in red and the existing Auburn ETC In yellow
The newly acquired property has been in the ownership of Australia’s largest telecommunications company, Telstra Corporation Limited (ASX listed, market cap. $40B) since 2002. Further, the property abuts to the east, south and west Readings Redyard Entertainment Centre, located at 100 Parramatta Rd, Auburn.
The company Business Plan seeks to accumulate asset wealth by adding value to our existing entertainment themed retail centres (ETC). Ownership allows future development to take into account the preservation of property sightlines, in particular our cinema located immediately behind the subject.
The acquisition is a natural and complimentary fit within the existing Australian real estate portfolio.