Shopping Centres Australasia Property Group (ASX:SCP) signed contracts to acquire Auburn Central Shopping Centre from Elanor Retail Property Fund (ASX:ERF) for approximately AUD 130 million on November 19, 2020. The sale of Auburn Central is scheduled to be completed prior to December 31, 2020. The settlement is scheduled to occur in mid-December, 2020 upon opening of the repositioned area. Proceeds from the sale of Auburn Central will be used to undertake capital management initiatives to further enhance value for security holders. Elanor Retail Property Fund intends to: Repay AUD 94.1 million in debt which will see fund gearing fall to 17.3%, reinstate fund distributions which were suspended due to economic uncertainty created by COVID-19 and commence an on-market buyback of up to 10% of Elanor Retail Property Fund's issued securities.

Shopping Centres Australasia Property Group (ASX:SCP) completed the acquisition of Auburn Central Shopping Centre from Elanor Retail Property Fund (ASX:ERF) on December 23, 2020. Under the terms of the transaction, the purchase price is AUD 129.5 million (excluding transaction costs).