Blackwall Property Trust expands in Hobart for $7.8M

Company News

by David Chau

Blackwall Property Trust (ASX:BWR) has acquired a commercial office building in the Hobart CBD for $7.8 million.

Within the office building, which has an area of 3,450 square metres, 75% of that space has been committed to long term leases.

As for the remaining space, it will used to house Blackwall's wholly-owned subsidiary WOTSO WorkSpace – which is a business that provides collaborative and flexible office space to startups, freelancers, and established businesses on Australia’s eastern seaboard and in Singapore.

Blackwall says this purchase will be funded by its $12 million capital raising late last year.

Blackwall posted a net profit of $10.8 million at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.