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GPT offloads to offshore buyer

Oct 26, 2009 (The Australian Financial Review - ABIX via COMTEX) -- By Ben Wilmot and Lisa Allen

Company: GPT Group (GPTGF)

The Four Points by Sheraton Hotel in Sydney has changed hands for $A185 million. The hotel was reportedly sold to a South East Asian businessman at a 10% discount to its fair value price as at 30 June 2009. Meanwhile, GPT Group aims to sell the Ayers Rock Resort for approximately $A300 million. There is speculation that $A1 billion worth of Australian resort property could be sold to foreign buyers in 2009.

Publication Date: 27 October 2009 

GPT GROUP - ASX GPT
SHERATON HOTELS
FOUR POINTS BY SHERATON DARLING HARBOUR SYDNEY
JONES LANG LASALLE HOTELS
AYERS ROCK RESORT COMPANY LIMITED
INDIGENOUS LAND CORPORATION
PAMOJA CAPITAL SA
BRAMPTON ISLAND PTY LTD
DELAWARE NORTH COMPANIES INCORPORATED
SUMITOMO REALTY AND DEVELOPMENT COMPANY LIMITED
GOLDMAN SACHS JBWERE PTY LTD
SHIMIZU CORPORATION

Copyright (C) 2009 ABIX. All rights reserved

News Provided by COMTEX

Company: GPT Group (GPTGF)


Related terms: australia, delaware, hotel, property, sydney

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