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Property company Cromwell Group (ASX:CMW) has launched a new unlisted $93 million property trust called Cromwell Ipswich City Heart Trust.
The trust is a seven-year single property syndicate located in Ipswich in Queensland and the state government is pre-committed to 91 per cent of the lettable area.
A deal has been inked with a subsidiary of Leighton Holdings Limited (ASX:LEI) to develop the commercial office and retail building from early 2012.
Cromwell Group plans to raise up to $49.25 million for the new trust and says the capital raising is expected to generate initial and ongoing funds management fees which will have a positive impact on the company’s future earnings.
Before the announcement shares in Cromwell Group closed 1.52 per cent higher yesterday at $0.67.
In the 2011 financial year Cromwell Group reported a net profit of $88 million.
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Last
38.3¢ |
Change
-0.008(1.92%) |
Mkt cap ! $1.152B | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 38.5¢ | 38.0¢ | $49.73K | 130.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 42 | 673811 | 38.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 484004 | 10 |
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| Last trade - 10.59am 04/12/2024 (20 minute delay) ? |
| CMW (ASX) Chart |
