Kingston Properties Ltd – Sale of Property

Posted: January 27, 2015 at 12:00 am

Kingston Properties Limited has advised that it has sold its office & warehouse property located at 83 Hagley Park Road effective January 6, 2015 for approximately Two Hundred And Thirty Million Dollars ($230 million). Net proceeds of the sale are expected to be invested in other properties. Over the five years holding period, Total Return (which includes annual cash yield and capital appreciation, net of transactions costs) was 13.2% annually. The property was sold to Medical Disposables & Supplies Limited.

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