News: Leighton scores Kings ransom for Kings towe

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Leighton Holdings Limited (ASX:LEI) has announced a record commercial property pre-sale in Western Australia.

 

The contractor will sell three commercial towers in Perth’s Kings Square development to DEXUS Property Group (ASX:DXS) for $434.8 million. 

 

The towers will have over 52 thousand square metres of office and retail space and are scheduled to commence construction in the middle of this year via Leighton subsidiary John Holland and Broad construction services. 

 

Leighton Properties has also signed two anchor tenancies within the Kings Square development.

 

Leighton Properties Managing Director Mark Gray says participation in Kings Square reflects Leighton’s broader strategy to leverage global trends towards urbanization. 

 

Leighton Holdings generated a net profit of $442 million in its 2012 financial year.