News and Announcements
Unity Pacific’s San Remo Valuation Increase
- Published April 13, 2016 1:00PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
13th April 2016, ASX Announcement
As previously announced, Unity Pacific Limited (ASX: UPG) (Unity Pacific) is conducting an expressions of interest (EOI) process for tis corporate vehicle, including the assets which will remain after the sale of 308 Queen Street/88 Creek Street, Brisbane.
The largest property asset that will remain is Unity Pacific’s parcel of land in San Remo, Victoria (the Land).
In light of recent sales activity in San Remo and the surrounding area, the Board commissioned an independent valuation of the Land as at 31 March 2016.
The book value of the Land in Unity Pacific’s 31 December 2015 half year accounts was $3.85 million. The independent valuer has determined that the value of the Land on an ‘is as’ basis is $6 million as at 31 March 2016.
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