Property investor Trinity Ltd
(ASX:TCQ) has sold an asset held within its unlisted managed fund, Trinity Enhanced Return Fund, for $8 million.
The office tower in Brisbane’s CBD is one of four properties on the corner of Queen and Wharf Streets acquired by the fund in April 2007 for $76 million.
The properties were aggregated to form part of a potential commercial office development site, however the company says as the short to medium redevelopment potential of the aggregation was no longer a viable proposition, it has sold all four of the assets in the fund individually.
Trinity also announced the sale of a property in QLD, held under the Trinity managed unlisted fund Trinity Property Trust, for $4.5 million to a private company.
Trinity reported a loss for the year to June 30, 2009.
