Cromwell launches Canberra office development, cuts debt costs

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Cromwell Property Group has signed a deal with thefederal government to build an office property in Canberra...

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The ASX-listed group will develop a six-storey, 19,800sq m building in Barton, fully leased to a...

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While broader market conditions have made new developments challenging, this project stands out...

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Cromwell will fund the project initially, but plans to eventually bring in outside investors, in line with...

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Meanwhile, Cromwell has refinanced its loans, lowering its average borrowing rate to 1.31% from 1.77%...

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