Aug 10, 2026 – 4.52pmIn a $1.3 billion deal, property giant Lendlease has sold the interests in two shopping centres in Brisbane and Perth to super fund investor Cbus Property, the final assets in a flagship retail fund which is being wound up to meet redemption requests.The sale of a half stake in Brisbane’s Westfield Carindale and Perth’s Lakeside Joondalup completes the divestment of all five mall stakes that had been held in an unlisted shopping centre fund managed by Lendlease – known as the Australian Prime Property Fund Retail – that was once worth $2.4 billion.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Lendlease to wind up malls fund after $1.3b deal with Cbus Property
The deal ends a long period turmoil over the flagship fund, which Lendlease fought successfully to retain before investors sought redemptions.
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