Lian Beng unit sells Melbourne property for A$35m

A WHOLLY owned subsidiary of Lian Beng Group is selling a property with 1,915.5 square metres of net lettable area in Melbourne, Australia for a consideration of A$35 million (S$36.7 million).

The construction group said that the subsidiary, Lian Beng Ventures (Melbourne), had entered into a contract of sale with OIM (AUST) Pty Ltd to dispose of a freehold property on the southern side of Collins Street, between Swanston and Elizabeth Streets of Melbourne. It comprises units B101, 101, 201, 301, 401, 501 at 247 and 249 Collins Street.

Lian Beng's counter closed 0.5 Singapore cent higher at S$0.595 on Tuesday.