The Financial Review, 10 February, 2006.

Investa calms worries over payout policy
BEN WILMOT

Investa Property Group will no longer base its future distributions profile on the profit it makes on asset sales...

...Meanwhile, Australian Public Trustees, which focuses on public infrastructure and government leased buildings, has snapped up a Canberra office building from Invsta.

Penrhyn House was aquired for $37.5 million on an initial yield of about 10 per cent. The 12,000 square metre building is leased to the federal Department of Helath and the Ageing until June 2009.

Knight Frank agent Greg Lyons brokered the off-market deal.

THe building, which was 50 per cent-owned by Investa itself and 50 per cent by an Investa-managed syndicate, was aquired for $38.6 million in 2002.