Oxygen Estate in Duns Creek, New South Wales (mortgagee in...

Oxygen Estate in Duns Creek, New South Wales (mortgagee in possession)
As announced on 25 March 2013 Wellington Capital Limited as Responsible Entity of the Premium Income Fund entered into a contract for the sale of the land at Oxygen Estate in Duns Creek, New South Wales as mortgagee in possession for $1.1 million payable over 12 months.
The purchaser was unable to meet its total commitment to the Fund of $1.1 million. Following negotiations and consideration of the alternatives agreement was reached to settle the matter. The Fund has received $875,000 in full and final settlement of the sale.