Westpac Makes Loss From Sale of Canberra Office Building

THE Westpac Office Trust has made a huge loss on a Canberra office building it bought in late 2006.

The 221 – 227 Anzac Parade office in Kensington sold for $35.5 million reflecting a yield of 7.6 per cent based on the building’s annual income.

Westpac paid $41 million for the building on a 6 per cent yield a little under three years ago.

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