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Abacus Property Group Offloads Aspley Village

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Reg Rowe's property company,

Excel Development Group, has acquired the Aspley Village Shopping Centre in Brisbane's northern suburbs for $32.25 million from

Abacus Property Group.

The Super Cheap Auto founder established Excel Property in 2007 and has since acquired a number of A-grade development sites.

Abacus Property Group confirmed the sale early this week, originally purchasing the property for $15.75 million in 2005.

The 11,337sqm village is anchored by a full line 3185sqm Coles supermarket as well as 6 Mini Majors. The complex also includes 2 freestanding childcare centres.

Savill's Peter and Jon Tyson negotiated the deal between Abacus and Excel, with the settlement scheduled for June this year.

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Article originally posted at: https://https://theurbandeveloper.com/articles/abacus-property-group-offloads-aspley-village