(Recasts paragraph 1, adds details and background in paragraphs 2-5)
Oct 12 (Reuters) - Australian fund manager Elanor Commercial Property Fund (ECF) on Thursday said the buyer for its Nexus Centre property in Brisbane would not go ahead with the acquisition.
Quantana, the proposed buyer of the Brisbane property has pulled out of the agreement on account of not being able to raise capital, Elanor said in a statement.
The ASX-listed retail property fund in August had announced its intentions to sell the Nexus Centre and Limestone Street properties for a gross price of A$72.7 million ($46.66 million).
Elanor, however, in September said it had failed to sell the Limestone Street property at Ipswich to Quantana, but was progressing with the Nexus Centre deal for a gross price of A$38.5 million.
The property industry globally, and office building owners in particular, are struggling as working from home and e-commerce lead tenants to reconsider floor space just as higher interest rates reduce building values and raise debt servicing costs.
Quantana has not satisfied the capital raising condition, Elanor said on Thursday, and is therefore not proceeding with its acquisition of the Nexus Centre property.
($1 = 1.5581 Australian dollars)
- Forums
- ASX - By Stock
- News: ECF UPDATE 1-Aussie office fund Elanor building sale falls through amid property sector stress
(Recasts paragraph 1, adds details and background in paragraphs...
Featured News
Add ECF (ASX) to my watchlist
(20min delay)
|
|||||
Last
72.5¢ |
Change
0.010(1.40%) |
Mkt cap ! $229.5M |
Open | High | Low | Value | Volume |
72.5¢ | 73.0¢ | 72.0¢ | $32.66K | 45.19K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 49375 | 72.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
73.0¢ | 23512 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 49375 | 0.720 |
1 | 121004 | 0.715 |
2 | 84836 | 0.710 |
1 | 25000 | 0.705 |
1 | 50000 | 0.700 |
Price($) | Vol. | No. |
---|---|---|
0.730 | 23512 | 3 |
0.735 | 30000 | 1 |
0.740 | 2866 | 2 |
0.745 | 40000 | 3 |
0.750 | 41750 | 2 |
Last trade - 16.10pm 22/05/2024 (20 minute delay) ? |
|
|||||
Last
72.0¢ |
  |
Change
0.010 ( 0.00 %) |
|||
Open | High | Low | Volume | ||
72.5¢ | 73.0¢ | 72.0¢ | 18399 | ||
Last updated 15.59pm 22/05/2024 ? |
Featured News
ECF (ASX) Chart |
The Watchlist
RDN
RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
Dusko Ljubojevic
MD
SPONSORED BY The Market Online