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Sydney - Monday - February 2: (RWE Aust Business News)...

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    Sydney - Monday - February 2: (RWE Aust Business News) -
    Stockland (ASX:SGP) has sold three commercial office buildings for a
    total consideration of $95.1 million.
    This includes ATO Building 81-95 Waymouth Street Adelaide, for
    $51m, Chesser House 91-97 Grenfell Street, Adelaide for $34.5m and 3
    Byfield Street Macquarie Park, NSW for $9.6m.
    Stockland has agreed to fund a total of $3.86m of capital
    expenditure across the three properties.
    The net sales proceeds of $91.2m represent a 7.5pc
    discount to 30th June 2008 book value.
    "These sales form part of our commitment to actively managing our
    assets and we will continue to use our asset management and leasing
    experience to optimise the value of our portfolio," said John Schroder,
    commercial property CEO.
 
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