Settlement of sale of Industrial property in Victoria

31 October 2014

Further to its announcement on 30 September 2014, Growthpoint confirms that settlement of the sale of its industrial property at 42-44 Garden Street, Kilsyth, Victoria to the current tenant, ARB Corporation occurred today.

The sale price was $19.0 million, $225,000 above the book value of $18.75 million.

Growthpoint continues to consider a number of acquisition opportunities and, subject to finding appropriate opportunities, will seek to redeploy the net proceeds of this sale into assets which better meet its investment criteria.