Reuters logo
2 years ago
BRIEF-Investec Australia Property Fund says to acquire property in Western Australia
October 15, 2015 / 5:13 AM / 2 years ago

BRIEF-Investec Australia Property Fund says to acquire property in Western Australia

Oct 15 (Reuters) - Investec Australia Property Fund

* Fund has entered into a contract for sale with CTI Freight Systems Pty Limited to acquire property located at 54 Miguel road, Bibra Lake, Western Australia

* Purchase consideration is AUD 26,000,000 which represents an annualised property yield of 7.94%

* No conditions precedent to acquisition of property

* Will be funded through existing debt facility with Westpac Banking Corporation. Fund's gearing post acquisition of property will be 37% Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below