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Mortgagee in Possession Sale – Nelson Bay
Wellington Capital Limited as Responsible Entity of the Premium Income Fund advises that the call option that it had entered into over the property as announced to the market on 10 July 2013 was not exercised and has since lapsed.
Wellington Capital Limited as Responsible Entity of the Premium Income Fund has however exchanged a contract for the sale of the property.
The contract is for $500,000 plus GST, with $200,000 payable at settlement and the balance due in 12 months from settlement. The contract is due to settle in May 2014.