THE STRAITS TRADING COMPANY LIMITED 22/10/2016 Straits Trading unit to sell Melbourne property for $171.8 mil
Published on The Edge Markets (http://www.theedgemarkets.com.sg)
Ho me > Straits Trading unit to sell Melbourne property for $171.8 mil
Oct 21, 2016 | Written by Jude Chan | 0
SINGAPORE (Oct 21): The Straits Trading Company on Friday announced the proposed sale of an office building in Melbourne, Australia, for A$161.5 million (171.8 million).
The conditional sale and purchase agreement was entered into by SRE Investment 1 (Australia), a subsidiary of Straits Real Estate, which in turn is a subsidiary of Straits Trading Company.
The property at 114 William Street is a 26storey office building with a total net lettable area of 21,010 sq m.
It sits on a 1,856 sq m freehold land site in the heart of the financial and legal precincts in the Western Core of the Melbourne Central Business District.
In a SGX filing, Straits Trading says the sale is expected to have a positive impact on the earnings per share of the group for the current financial year ending Dec 31, 2016.
It adds that there is not expected to have any material impact on the net tangible asset per share.
Shares of The Straits Trading Company last closed at $1.99 on Thursday.
Addthis: author: Jude Chan source:theedgemarkets.com.sg is Pinning adv:
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The Straits Trading Company Limited published this content on 21 October 2016 and is solely responsible for the information contained herein.
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