AUG augusta capital limited

Ann: ASSET: AUG: Augusta Funds Management to Syndicate Brisbane Property

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    • Release Date: 02/02/16 09:35
    • Summary: ASSET: AUG: Augusta Funds Management to Syndicate Brisbane Property
    • Price Sensitive: No
    • Download Document  1.33KB
    					AUG
    02/02/2016 09:35
    ASSET
    PRICE SENSITIVE
    REL: 0935 HRS Augusta Capital Limited
    
    ASSET: AUG: Augusta Funds Management to Syndicate Brisbane Property
    
    Augusta Capital Limited is pleased to announce that its wholly owned
    subsidiary Augusta Funds Management Limited has entered into an agreement to
    purchase an industrial property located at 76 Quinns Hill Road, Staplyton,
    Brisbane, Australia. The property comprises two separate buildings each
    leased to a separate tenant.  Those tenants are Nu-Pure Pty Ltd and A&L
    Windows (Qld) Pty Ltd.
    
    The A&L Windows lease is currently in the second year of a 10 year lease
    term, ultimately expiring on 1 December 2024.  The Nu-Pure Premises are
    currently being redeveloped with a new 9 year lease term to commence upon
    completion of that redevelopment (currently expected to be complete by 30
    June 2016).
    
    Augusta will offer the property to its investors by way of syndication with
    an offer expected to open in mid to late March 2016.   The purchase price is
    AU$23 million. The syndicated offer will seek to raise AU$14 million in
    investor equity. The purchase is conditional on Augusta Funds Management
    having raised AU$9 million of that AU$14 million by 31 May 2016.
    
    -ENDS-
    
    For further information please contact:
    
    Mark Francis
    Managing Director
    End CA:00277109 For:AUG    Type:ASSET      Time:2016-02-02 09:35:19
    				
 
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