FKP Property Group (FKP) managed ‘FKP Core Plus Fund Two’, a closed end investment fund, has sold Industroplex Rocklea in Queensland for $14.0 million against a book valuation of $14.5 million. Industroplex Rocklea was acquired in 2008 and fully leased to Iveco. Settlement of the transaction will occur in November 2012. The industrial property has been sold as part of the Fund’s strategy to return capital to investors. FKP holds a 27.7% stake in the Fund. FKP is in the process of winding up its non-retirement related funds management platform (Core Plus Fund One and Core Plus Fund Two) as part of the Group’s broader strategy to streamline its business lines to focus on FKP’s market-leading retirement portfolio and substantial property development pipeline.
With more than 30 years’ experience in the Australian property industry, FKP Property Group (FKP) is one of Australia’s leading diversified property and investment companies. FKP successfully operates an integrated business model which includes retirement, property investment and funds management, land development, property development (incorporating residential, retail, industrial and commercial) and construction across Australia and New Zealand. FKP is an ASX top 200 company.