This article is from the Australian Property Journal archive
CROMWELL has settled on its acquisition of the Qantas Headquarters building in Mascot, NSW for $143 million.
At the same time, the group has also entered into an unconditional contract to sell Village Cinema Centre in Hobart, TAS for $15.9 million.
The price represents a 2% premium to the property’s last independent valuation in December 2009 but is inline with the June 30 2010 book value. Settlement is expected on September 30.
CEO Paul Weightman said the property was considered a noncore asset and the sale represents the continuing rebalancing of the group’s portfolio to quality assets such as Qantas HQ.
Australian Property Journal
