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Cromwell Sells Only Western Australian Asset For $8.6 Million

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Western Australia
Thursday, 03 March 2011 00:00

CROMWELL Property group has sold its only West Australian asset.

The Coffee Source has paid $8.6 million for the Cannington property at 78 Mallard Way (pictured, right).

The asset includes a 12,438 square metres of warehouse, and land for expansion. It’s book value was $8.4 million, according to the AFR which reported the sale.

Cromwell chief executive Paul Weightman said the sale was part of a move toward assets with “the highest risk weighted return”.