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
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.