Cromwell Property Group
(ASX:CMW) has confirmed it will launch a $67 million unlisted property syndicate next month.
The company says the syndicate has been established to hold a new office building under construction in Melbourne which will be occupied by the Australian Tax Office.
Separately, Cromwell said yesterday FKP Property Group
(ASX:FKP) has decided to terminate the potential sale of its retail and office development called Gasometer 1 to Cromwell.
Cromwell Property Group’s net profit dropped to $23 million in the 2012 financial year.
