MFS Diversified Trust has sold another non core property for approximately $2.6 million to an undisclosed investor.
The purchase price realises a profit of 34% over the property’s current book value, which currently at $2 million.
The sale of 47-49 Marble Drive in Kingston, Queensland is part of the trust’s strategy to dispose of $30 million worth of assets.
So far, MFT has sold 46 Steel Place in Morningside, QLD for $1.9 million; 1585 Ipswich Road in Rocklea, QLD for $1.95 million and 172 Ingram Road in Acacia Ridge, QLD for $6.57 million.
The anticipated settlement date for this sale is November 13, 2006.
By Adam Parsons
