FKP Property Group is a step closer to closing the $85 million sale of the Transport Accident Commission building in Geelong to a syndicate of private investors.
The deal is now unconditional, after FKP signed the TAC to lease all the commercial space in the building, for 20 years with an option for a further five.
FKP confirms that the final sale price is slightly in excess of book value. The building is located in Brougham Street in the Geelong CBD, and consists of 15,000 sqm of net lettable area, and includes car parks, public space and retail tenancies.
Australian Property Journal
