Becton sells Melbourne village site to retire debt while parent struggles

Jul 15 2012 Updated July 4, 2023

The Weekly Source

1 min read

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.

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