Executives at Macquarie Countrywide Trust are licking their wounds after only two of ten supermarkets they put to auction yesterday, sold.

Macquarie Office Trust (ASX: MOF) today announced an unconditional contract had been entered into for the sale of 505 Little Collins Street, Melbourne for A$83 million at a significant premium to book value. The transaction represents a significant return for the Trust and reinforces Management’s commitment to realising assets and repaying debt with the view to enhancing unitholder value.

Building approvals went nowhere in February as the run of weak updates for the new home building sector continued.

Property spruiker Henry Kaye has had a charge of dishonestly obtaining a financial advantage by deception charge withdrawn this week.