afr article asset sales

Page 55 of today's AFR mention a Melbourne based property syndicate of bought a Becton owned industrial property 13-19 Wangara Road, annual rental of 1.13m.

Becton have a major refinancing hurdle March / April, if they can get that refinanced or themselves recapitalised in some form there is value in current levels IMO.

The notes BECG if paid out realise a > 50% p.a. return, last trade 53c, face value 65c, 3.1c interest (total payout 68.1c) from a 5 month hold!