This article is from the Australian Property Journal archive
SINGAPORE's Tat Hong Holdings Australian subsidiary, Tutt Bryant, has entered into a sale and leaseback deal with Ashover Investment for an industrial property at Rocklea in Brisbane's south.
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Located at 14 Ashover Rd Rocklea, the property was sold for $6.25 million. The sale price reflects a significant premium to book value.
The property`s net book value was $2.70 million as at 31 May 2015.
Under the agreement, Tutt Bryant will leaseback the property from Ashover Investment for a period of 12 years at base rental of $0.53 million p.a., subject to a fixed annual base rent adjustment as well as index and market reviews on set intervals within the lease term.
Australian Property Journal