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