GPT: Intention to unwind Penrith Plaza Joint Venture
Mon 15 Jul 2002
Published: Mon 15 Jul 2002 11:45:42
Document No: 269002
Document part: A
Market Flag: N
Classification: Progress Report
GENERAL PROPERTY TRUST 2002-07-15 ASX-SIGNAL-G HOMEX - Sydney +++++++++++++++++++++++++ GPT Management Limited, as responsible entity of General Property Trust, today announced that it had commenced the process of terminating the ground lease at Penrith Plaza Shopping Centre. This will result in the existing Joint Venture Investment Arrangement with ANZ Banking Group being dissolved as anticipated under the terms of that arrangement. This process is expected to be completed by October 2002. A further announcement, regarding the impact of the unwinding on the Trust, will be made once the commercial terms have been settled.