IMPERIUM FIN GP subsidiary plans to sell a series of investment properties for 7 million Australian dollars

According to the news from Zhitong Finance and Economics APP, IMPERIUM FIN GP (08029) announced that on July 30, 2024, the seller Imperium Farm Pty Ltd (an indirect wholly-owned subsidiary of the company), the asset seller Imperium Stud Pty Ltd (an indirect wholly-owned subsidiary of the company), and the buyer Widden Property Pty Limited entered into a sale and purchase agreement regarding the sale. Under the agreement, the seller and the asset seller agreed to sell, and the buyer agreed to purchase, the investment property under lease for a total consideration of AUD 7 million, plus any applicable goods and services tax, and subject to the terms of the sale and purchase agreement.

It is reported that the seller is mainly engaged in property investment holding. The asset seller is mainly engaged in holding breeding horses under several profit-sharing schemes and holding equipment and vehicles on the land under the investment property.

The investment property consists of a 172-hectare (425-acre) plot of land located at 56 and 146 Mt Eliza Road, Kerrie Vic 3434, Australia (including the farm and veterinary facilities and structures owned by the seller), as well as assets on the land owned by the asset seller (including farm and veterinary equipment on the land, multiple cars from 2014, tractors, machinery, office equipment, furniture, tools, and miscellaneous items). The investment property is currently leased to Widden Stud Victoria Pty Limited under a lease agreement for an annual rent of AUD 315,200 (equivalent to approximately HKD 1.61 million) (plus goods and services tax), used as a stud farm for purebred horse breeding, livestock agistment, and training and pre-training of purebred horses.

The announcement stated that the sale is an opportunity for the group to realize its investment in the investment property and concentrate resources on developing other business segments of the group