Becton sells Melbourne village site to retire debt while parent struggles
The successful retirement arm of Becton has had to shelve further development plans given the financial strain its parent Becton Property Group is under. They have sold a long held development site in eastern Melbourne for $7.1M to retire debt to...
The successful retirement arm of Becton has had to shelve further development plans given the financial strain its parent Becton Property Group is under. They have sold a long held development site in eastern Melbourne for $7.1M to retire debt to Bendigo & Adelaide bank. They also have a Suncorp facility that has to be refinanced by end July valued at $73M. About 50% of Becton Retirement is owned by the Oman governments Oman Investment Fund which invested originally because of the Becton village development pipeline. That no longer seems to exist.
