Bunnings Warehouse Property Trust (ASX:BWP) has announced that it has bought a Bunnings Warehouse in Victoria for $24 million.
The property trust says its latest acquisition was sold by an institutional owner through a public campaign and is located around 2.5 kilometres from Melbourne's centre.
The purchase will be funded from the trusts' current cash reserves and boosts the number of Bunnings Warehouses to 54 owned by the trust.
In August Bunnings Warehouse Property Trust said it had a strong balance sheet and would be actively pursuing new assets.
Bunnings Warehouse Property Trust booked a turnaround net profit of $92.18 million in the year to 30 June 2010.
BWP Price at posting:
$1.80 Sentiment: None Disclosure: Held
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