Sale of St Leonards trading property to contribute to FY23 trading profits

10 November 2022

Sale of St Leonards trading property to contribute to FY23 trading profits

Dexus announces that it has successfully exchanged contracts to sell a trading property located at 12 Frederick Street, St Leonards, with profits to be recognised upon settlement which is expected to be in December 2022.

The gross sale proceeds of $118.5 million are expected to contribute approximately $50 million pre-tax trading profits in FY23.

The sale is subject to FIRB approval and practical completion of the refurbishment of the property.