2321 GMT - A new opportunity just opened up for Scentre in northern Sydney. Its landholdings around the Westfield Hornsby mall have been rezoned by a program overseen by the New South Wales government. Morgan Stanley says this new scheme could lead to 2,300 apartments on the site. For Scentre, it could "could generate A$230 million+ value in air rights if sold to a third-party developer, even assuming a very conservative A$100,000/lot," analyst Simon Chan says. Scentre last provided a book value of A$977 million for the Hornsby site in June. It represents some 3% of Scentre's property portfolio. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 26, 2024 18:21 ET (23:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。