SALE AND LEASEBACK OF PLANT AND PRECAST FACILITIES

Georgiou Capital Pty Ltd has completed the sale and leaseback of its plant and precast facilities in Hazelmere to global investment fund Singapore GIC.

Georgiou Chairman John Georgiou said the decision to sell and leaseback the facility provides the opportunity to release capital for Georgiou to develop their plant and precast capability across their whole Australian businesses in Western Australia, Queensland and New South Wales.

“The sale of the plant and precast facilities allows the redeployment of capital for Georgiou to pursue additional construction and property opportunities across Australia,” he explains.

“The seven-year lease will also enable Georgiou to plan its future precast and plant across WA and expand into NSW and Queensland by self-performing with its own plant and precast capabilities. Georgiou is now well established in NSW and Queensland with more than half our revenue generated outside of WA.”

Leading Perth property group, Hesperia, will manage the property on behalf of GIC.

Georgiou Capital Pty Ltd has common major shareholders with Georgiou Group Pty Ltd.