Port Bouvard Limited (ASX:PBD) accepted an offer for the sale of Lot 372 at Port Bouvard Residential Estate in cash on January 4, 2013. The contracted settlement date is on or before February 25, 2013. Proceeds after GST and costs, will net approximately 7% above book value.

The sale is expected to reduce debt and will add to Port Bouvard's working capital reserves.