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July 29 (Reuters) - Velocity Property Group Ltd (VP7) :...

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    30/07/20
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    Post #: 46168892

    July 29 (Reuters) - Velocity Property Group Ltd (VP7) :

    • VELOCITY PROPERTY GROUP ANNOUNCES SALE OF ITS DEVELOPMENT SITE, TWO27 IN PALM BEACH, QUEENSLAND FOR $11.15M
    • TOTAL NET PROCEEDS OF SALE ESTIMATED TO BE $4.6 MILLION
    • TOTAL NET PROCEEDS FORECASTED TO BE APPLIED TO DEBT REDUCTION OF 360 CAPITAL REIT'S CORPORATE LOAN NOTE
    • AT COMPLETION OF 15 CONTRACTS SETTLEMENTS, EXPECTS TO REDUCE ITS DEBT POSITION BY $15.4 MILLION
    • BOARD WILL UNDERTAKE A STRATEGIC AND OPERATIONAL REVIEW
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