ASX Announcement – Sale of Merrylands Property

Elanor Investors Group (“Elanor” or “ENN”) is pleased to announce that it has exchanged unconditional contracts for the sale of its Woodville Road, Merrylands Property for $36 million.

The property was purchased in July 2014 as part of the John Cootes Furniture acquisition. The sale follows Elanor’s success in obtaining a Gateway Determination from the NSW Department of Planning and Environment which supports the rezoning and redevelopment of the 26,135sqm site into a mixed use scheme. This redevelopment is expected to comprise approximately 540 apartments and 7,500sqm of retail and commercial space.

To read the full announcement, click here.