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NEWS - Sale of the Hemmant industrial property in Queensland



The negotiations for the sale of the Hemmant industrial property in Queensland were successfully concluded, with settlement occurring on 2 October.

The divestment of Hemmant is a positive outcome for Investors, as the sale price was significantly above the original purchase price and the current valuation.

The divestment will provide the Investment Manager the opportunity to redeploy the capital (together with a modest increase in gearing) for the acquisition of properties that, whilst continuing to reflect the I-REIT’s Investment Strategy, will further diversify the geographic allocation within the Fund.

The Investment Manager is currently reviewing a number of investment opportunities that potentially meet this aim.

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Last updated: 21/11/2019