Beacon Lighting Group (ASX:BLX) subfund to acquire WA showroom

Beacon Lighting Group (ASX:BLX) has set up a new subfund of its 50 per cent owned Beacon Commercial Property Fund.

The new subfund will acquire purchase 19-21 William Street, Beckenham in Western Australia.

The purchase is valued at $7.8 million plus stamp duty.

Beacon Lighting Group is expected to contribute $4.2 million towards the sale.

This property is located 13 kilometres south east of the Perth CBD and is a dual tenancy showroom building.

Two long term tenants occupy the property – Beacon Lighting and Forty Winks.

Shares in Beacon Lighting Group (ASX:BLX) are steady at $1.70.
 
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Source: Finance News Network