Thursday, February 07, 2008

ANZ Seeking $100 Million Sale Leaseback of 47 Bank Branches

Sydney Morning Herald - February 5, 2008

ANZ Banking Group Ltd will sell and lease back 47 branch sites and three commercial office buildings across Australia as part of its long-term property strategy.

The 47 branches are the only remaining fully owned retail sites of ANZ's 800-plus national branch network.

The bank's global property head, Jane Hamilton, said the branches would remain an important part of ANZ's network.

The bank has opened more than 80 new branches since 2004 and chose to lease rather than purchase the sites outright, in line with its long-term property strategy, Ms Hamilton said.

The sale and lease back of the ANZ portfolio will be managed by Jones Lang LaSalle and has a potential end-value of more than $100 million.

Auctions will be held on March 18, 19 and 20 in Melbourne, Perth, Sydney, Adelaide and Brisbane.

(Link to the property offering web site) Sphere: Related Content

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