Centuria Capital Limited (ASX:CNI) will sell its commercial office building on Queen st in Melbourne for $40.7 million.
The investment fund took over the property in September 2010 when the property was valued at $26.5 million.
The off market sale price is 25 per cent above the latest independent valuation whic came late last year.
CEO John McBAin says the result is pleasing for the investors and advisers associated with the fund.
Centuria reported a net profit of $5 million in the first half of the 2014 financial year.
