A2B: A2B agrees to sale of O'Riordan Street, Alexandria

A2B AUSTRALIA LIMITED

• A2B Australia Limited has agreed to sell its O'Riordan Street, Alexandria property to Double Space Pty Ltd for $78 million as part of its 'BETTER BEFORE BIGGER' strategy.
• The net proceeds from the sale, after costs and debt repayment, are expected to be approximately $73 million, with plans to return these proceeds to shareholders as a fully franked dividend by the end of 2023.
• A2B will enter a 3-year lease back on the O'Riordan Street premises while it considers its long-term property requirements.

2023-03-30 17:07:00