Washington H. Soul completes warehouse sale

Company News

Washington H. Soul Pattinson and Co. Limited (ASX:SOL) has completed the sale of two distribution centres for $153 million.
 
The investment company says the transactions should generate a pre-tax profit of around $26 million, $17 million of which was taken up in the 2014 financial year as a revaluation gain.
 
The properties were sold with long term leases to Super Retail Group (SUL:ASX).
 
The centres were developed and managed by Pitt Street Real Estate Partners and held in the Australian Logistics Property Fund.
 
Washington H. Soul Pattinson and Co. Reported a net profit of $155.6 million in the 2014 financial year.