Not for release or distribution in the US

AMP Capital has announced it has acquired Marketown Shopping Centre in Newcastle, New South Wales, from The Cartier Group for approximately $163 million on behalf of Sunsuper.

Marketown Shopping Centre is a 26,000 square metre sub-regional centre, which spans two separate sites connected by a carpark with 920 parking spaces. It is anchored by major tenants Coles, Woolworths, Big W, Officeworks and Dan Murphy's and has 58 specialty stores.

AMP Capital's Head of Separate Accounts, John Dynon, said: "Our focus is on delivering great investment outcomes for our clients in a selective and disciplined manner. We are delighted to have found an opportunity for Sunsuper to invest in Newcastle that meets this objective, helps our client to achieve their goals, and pleasingly demonstrates our ability to execute in a competitive market."

Following the acquisition of Marketown, Sunsuper's portfolio is now well positioned and consists of more than eight quality commercial assets.

Michael Weaver, Manager Private Markets, Sunsuper, said: "Marketown is the first direct retail acquisition for Sunsuper and it complements our existing portfolio,  which includes the interest we acquired in Australian Technology Park, Sydney in 2015.

"Although we have considered such opportunities in the past, Marketown is the first asset  to deliver on the right price, scale, tenant mix, leasing and development upside.

"Through further development, an asset such as Marketown has the ability to maintain its relevance within Sunsuper's Property portfolio as our funds under management continues to grow."

Marketown is well positioned to benefit from new transport infrastructure and a university hub. With the majority of the income stream secured by highly-rated covenants, the centre also has potential for future repositioning and development.

As part of  the acquisition, AMP Capital has taken over the management of the shopping centre from Knight Frank, which means, effective today, the Marketown Centre Management team of four will become members of the AMP Capital team.

About AMP Capital

AMP Capital is a specialist investment manager with more than A$165 billion in funds under management as at 31 December 2016 and more than 250 investment professionals.  AMP Capital has a heritage and strength in real estate and infrastructure, and specialist expertise in fixed income, equities and multi-asset solutions. It is a subsidiary of AMP Limited, which was established in 1849, and is one of  Australia's largest retail and corporate pension providers.

About Sunsuper

Sunsuper is one of Australia's  fastest growing super and retirement businesses and was recently recognised as  Chant West Fund of the Year 2017. As at July 2017, Sunsuper managed more than  $45 billion in retirement savings for more than 1 million members.  We also help more than 90,000 businesses across the country manage their super obligations through a range of products  and services that are designed to make managing employees' superannuation easy and efficient. Being a profit-for- members fund means our customers sit at the heart of everything we do. Sunsuper has no shareholders to pay, which means all  profits are returned to members through low fees and industry-leading services.