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BRIEF-Investec Australia Property Fund says to acquire property in Western Australia

Published 15/10/2015, 04:09 pm
© Reuters.  BRIEF-Investec Australia Property Fund says to acquire property in Western Australia
IAPJ
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Oct 15 (Reuters) - Investec Australia Property Fund IAPJ.J

* Fund has entered into a contract for sale with CTI Freight Systems Pty Limited to acquire property located at 54 Miguel road, Bibra Lake, Western Australia

* Purchase consideration is AUD 26,000,000 which represents an annualised property yield of 7.94%

* No conditions precedent to acquisition of property

* Will be funded through existing debt facility with Westpac Banking Corporation. Fund's gearing post acquisition of property will be 37% Source text for Eikon: ID:nJseO0002a Further company coverage: IAPJ.J

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