Beacon Lighting Group (ASX:BLX) has set up a new subfund of its 50 per cent owned Beacon Commercial Property Fund.
The new subfund will purchase 19-21 William Street, Beckenham in Western Australia.
The purchase is valued at $7.8 million plus stamp duty.
Beacon Lighting Group is expected to contribute $4.2 million towards the sale.
This property is located 13 kilometres south east of the Perth CBD and is a dual tenancy showroom building.
Two long term tenants occupy the property – Beacon Lighting and Forty Winks.
Shares in Beacon Lighting Group (ASX:BLX)
are steady at $1.70.