Press Release - Sale of 161 Castlereagh Street Site for $9 million

Press Release - Sale of 161 Castlereagh Street Site for $9 million

10-Feb-2000

Pacific Century Hotels Trust owned jointly by Thakral Corporation Limited (listed in Singapore) and Thakral Holdings Limited (the publicly listed company in Australia) has sold 161-167 Castlereagh Street site for $9,000,000 to Ozton Pty Ltd of Level 17, 33 Bligh Street, Sydney.

The property is located in the city between Market Street and Park Street and has a mix of retail outlets and backpacker style hotel.

Terry Agnew of Ozton Pty Ltd advised that his company would seek to develop a high rise residential complex with views over Hyde Park.

The Managing Director of Thakral Holdings Limited, Mr John Schaap, said "the sale was part of the overall diversification strategy embarked on during the last two years".


Released by: Thakral Holdings Limited

Contact: For further information or comment, please call John Schaap, Managing Director, Thakral Holdings Limited, on 02-9272 8888

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