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Infomedia Sells Frenchs Forest Property

By July 3, 2006December 9th, 2016Archive, ASX Announcements

Monday, 3 July 2006 – Sydney – International automotive industry IT developer, Infomedia, announced the sale of its industrial and office property located in Frenchs Forest to Record Realty (ASX:RRT) for $23 million. The sale was completed on the evening of 30 June 2006.

As part of the sale, Infomedia entered into a 5 year lease (with a 5 year option) and will continue to occupy the office building that has been its headquarters since April 2004. The property sale was foreshadowed at the Company’s 2005 Annual General Meeting as part of the realisation of non-core assets.