Sale of Novotel on Collins and Australia on Collins

Sale of Novotel on Collins and Australia on Collins

03-May-2011

Further to our announcement of 4 March 2011, Thakral advises that conditional contracts have now been exchanged for the sale of the Novotel on Collins and Australia on Collins property in Melbourne.

The contract sale price is $204 million which, after deducting selling and other costs associated with the sale, exceeded the book value.

Settlement is expected to take place before the end of the financial year.

Yours sincerely

 

Andrew Horne
General Counsel/Group Company Secretary

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