AustraLand sells 11 properties in Australia for S$175m

CapitaLand’s unit in Australia, AustraLand, is selling a portfolio of 11 industrial facilities for A$150.5 million, or S$175 million.

The portfolio consists of six properties in Melbourne, three in Adelaide and two in Brisbane.

All the properties are located on airport leasehold land and have all been developed by Australand within the last four years.

The properties are fully leased with an average lease period of 8.5 years.

The buyer of the properties is SAITeys McMahon Property.

Source: Channel NewsAsia, 18 December 2006

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