AMP Capital Sells Final Property From Fund At End Of 10-Year Lifespan

Tom Burroughes

21 May 2015

Australia-based investment group , which has announced a string of recruitments recently in different regions, has sold the final asset - an Australian service facility - that had been held in its AMP Capital Property Income fund for around A$23 million ($18.1 million).

The sale of the Yass Highway Service Centre, which was located on a 5.87 hectare site in New South Wales, Australia, was the final item sold from a fund that at its peak owned 42 properties across the country. The fund had a 10-year fixed term.

The Yass property was purchased by an entity managed by Australian property syndicator Fawkner Property Group. The sale was handled by Chris Johnson of MMJ Real Estate and James Wilson of Colliers International, according to a statement from AMP.