JF Meridian Trust has sold an office-warehouse in Artarmon in Sydney's northern suburbs for $4.2 million.
The property at 50 Broughton Road, Artarmon, reflects a $400,000 premium to the property’s current book value.
Meanwhile, the group has reached agreement to the terms of the sale of its 50% interest in Milton Village Shopping Centre in Queensland for $6.445 million to Centro MCS Syndicate No 33 at a premium of 15.1% above book value.
Director of JF Meridian Trust, Tony Pitt says the deals are in line with JFG’s stated strategy of repositioning JFM s property portfolio, replacing older style, non core assets, with modern, quality assets with stable future cashflow to enhance returns to unitholders.
In conjunction with the sale of 286-288 Coward Street, Mascot; the sale of its 50% stake Logan City Centre in Queensland for $22 million; and 22 Lambs Road, Artarmon, which have all settled, JFM has almost completed the first stage of disposals in its repositioning of the Direct Property Portfolio.
