Cuscaden Peak Investments completed the sale of its 50% freehold interest in South Australia's Westfield Marion Shopping Centre to Hong Kong private equity firm JY Group for US$469 million (A$670 million, about S$603.9 million) on June 11, 2026 [1, 2]. The transaction price exceeds the mall's December 31, 2024 valuation of A$580 million by 15.4%, but is roughly equal to the original acquisition cost [1, 2].

Westfield Marion is Adelaide's largest mall and the 11th largest in Australia, boasting 303 stores and annual retail sales exceeding A$1 billion [1, 2]. The shopping centre attracts approximately 12.5 million visitors each year and sits on a 22.8-hectare freehold site with about 138,000 square meters of gross lettable area, translating to roughly A$9,700 per square meter [1, 2].

The sale marks Cuscaden Peak's full divestment from assets originally acquired under the SPH-owned Paragon REIT portfolio, which it took over in 2022 after SPH Reit was renamed Paragon REIT in 2023 and delisted in 2025 [1, 2]. Cuscaden Peak was originally a consortium formed by Hotel Properties, CLA Real Estate Holdings, and a Mapletree unit, though Hotel Properties has since exited [1, 2].

In April 2026, the group also signed an agreement to sell the Paragon shopping centre on Orchard Road to CapitaLand Integrated Commercial Trust for S$3.9 billion, continuing its recent string of asset disposals [1, 2]. Besides Westfield Marion and Paragon, Cuscaden Peak sold UK and Germany student housing valued at £1 billion, three Nassim Road bungalows for S$206.7 million, The Seletar Mall, The Rail Mall, Orange Valley nursing home business, and The Clementi Mall, totaling approximately S$3.5 billion in recent asset sales excluding Paragon [1, 2].

Cuscaden Peak retains a 50% stake in The Woodleigh Mall, which has been on the market since July 2024 with an asking price near S$800 million [1].

The sale of the Westfield Marion stake is among Australia's largest retail property transactions in recent years [1, 2]. The next major transaction for Cuscaden Peak is the pending sale of The Woodleigh Mall, marking another key step in its portfolio repositioning [1].