City on Facebook
has been sold by WA apartment developer Finbar for $72.8 million.
The building, at 59 Albany Highway, is occupied by engineering company Monadelphous Group and was completed in 2010 by Finbar, which holds a 69 per cent interest in the property.
Settlement is expected in March and the buyer is reportedly an unnamed Singaporean.
A Finbar statement said the company hoped to realise about $20 million in cash from the sale after repaying loans and minority joint venture interests.
“The sale represents a timely disposal opportunity where we can seek to deploy more funds into our core business of residential apartment development, which has a very robust pipeline of exciting and largescale projects,” Finbar managing director Darren Pateman said.
from a Twitter account to adding two Facebook pages.
One is dedicated to youth services after feedback received during the development of the City’s Youth Plan last year recommended better ways to communicate with young people.
The page, BelmontYouthService, will complement the City’s new Facebook page BelmontCouncilWA.
Belmont Connect was also launched at www.connect.belmont. wa.gov.au to foster community discussion and participation.
“If you live, work, visit or study in the City of Belmont, then share your ideas and comment on issues that interest you,” chief executive Stuart Cole said.