I believe the price was actually very good for this particular shopping centre. I used to own a business in this shopping centre & know it extremely well & my hubby was in commercial building all over the Gold Coast & understands the prices you could achieve as well & it needs a lot of work done on it too - they got a good deal whether or not it is below the 'perceived' book value. A profit is a profit in this financial environment on any asset & I wonder about whether book value is really true value or not or is it gilded with unrealistc rental valuations etc to get a better price for selling as I know the way shopping centres operate by ripping off their tenants every year with a plucked out of thin air CPI figure they increase to suit themselves & when you question where they get this CPI figure from they just threaten to throw your business out the door instead. (Better not get me started on owning businesses in shopping centres!) I don't own any CNP at the moment (since last time it was 50c) but I see this as good news that they are selling some assets & will lower their loan risk with a share price under 10c so looks a better bet than before.
CNP Price at posting:
7.7¢ Sentiment: LT Buy Disclosure: Not Held
