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18.06.2015

Tat Hong sells Queensland facility

The Tutt Bryant division of Tat Hong has agreed the sale and leaseback of its depot in Rocklea, Queensland, Australia, to Ashover Investment.

Ashover is paying A$6.25 million in cash for the property, and Tutt Bryant will lease it back from Ashover for 12 years at base rental of A$530,000 per annum, subject to a fixed annual base rent adjustment as well as index and market reviews on set intervals within the lease term.

The property has a net book value of A$2.7 million, providing a gain of A$3.5 million, after deducting expenses. This is the second time a deal has been struck for this property, the last one in July 2014 to TransLinQ along with other properties, fell through.
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The Tutt Bryant facility in Rocklea, Queensland


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