Lend Lease to sell Australia Square
AZ Press Association > SYDNEY Lend Lease Corporation. Ltd, expects to receive about $43.5m in cash from the sale of Australia’s tallest building. Australia Square, to the General Property Trust. The purchase will be determined by an independent valuation. The trust will finance its purchase by making a one-for-one issue to unit holders at 125 c a unit. The issue will raise $37.5m and the balance of the purchase price will be mongage funds. Despite an over-supply of office accommodation in Sydney, Australia Square is almost fully let. The chairman of Lend Lease (Mr G. J. Dusseldorp) said that 56.7 m of the sale funds would be invested in the company’s United States joint venture. Property Holdings International. Ltd. This would raise its equity invesment in the United States to SUS2Sm. METALS '.V IH -Keuter—Copyright) LONDON. Mar 28. Buyers Sellers a ton a ton | topper .. . 1285.00 1295.00 Tin .. 3425.00 3426 00 Lead 308.50 307.00' Zinc 714.00 715. M I Silver pence per ounce,, spot —219.3. forward—23l.o Gold IU.S. dollar* per ounce*. 174.50
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Bibliographic details
Press, Volume CXIV, Issue 33498, 1 April 1974, Page 16
Word Count
177Lend Lease to sell Australia Square Press, Volume CXIV, Issue 33498, 1 April 1974, Page 16
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