ASX RELEASE
13 September 2012
ASX Market Announcements
20 Bridge Street
SYDNEY NSW 2000
Dear Sir / Madam
In accordance with listing rule 3.1, Watpac advises that late
yesterday afternoon it completed the sale of its
9.69ha site at the Kingston Industrial Estate development to
the Charter Hall Group managed fund, Direct
Industrial Fund 1. The total sales value achieved of $20.85
million was in line with book value, with $15 million
received at settlement. The balance sales proceeds comprise
fees for further development works, to be undertaken by
Watpac, on part of the land. All amounts due under the sale
agreement are expected to be received in the 2013 financial
year.
The Watpac Group continues to hold a 2.35ha development site
at the Kingston Industrial Estate which has been earmarked
for sale in the near term.
Yours sincerely, WATPAC LIMITED
Mark Baker
COMPANY SECRETARY
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