Washington H Soul Pattinson and Company to sell a NSW property

Company News

by Rachael Jones

URB Investments (ASX:URB) is pleased to announce that they and their co-investment partner Washington H Soul Pattinson and Company (ASX:SOL) have agreed to sell 55 Yarrunga Street, Prestons, NSW, which is held via an investment Trust.

Headline sale price is $71.6 million, to be adjusted upon completion of development.

The settlement is expected to happen by the end of November 2018.

While final costs cannot be confirmed until completion of the development, the Transaction is expected to generate an increase in pre-tax NTA for URB of approximately 5.5 cents per share.

Shares in Washington H Soul Pattinson and Company (ASX:SOL) are trading 1.53 per cent lower to $23.89