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Event Hospitality and Entertainment Announces Sale of Rydges North Sydney

27 May 2022  |  12:08:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Sale of Rydges North Sydney

Event Hospitality and Entertainment announced that the Company has entered into an unconditional contract with JD North Sydney Services Pty and JD North Sydney Business Pty ("Purchasers") for the sale of Rydges North Sydney (54 McLaren Street, North Sydney). The Purchasers are subsidiaries of a Singaporean entity and investment affiliates of High Street Holdings. The property had previously been identified as requiring capital refurbishment if it was to be retained by the Group. The proceeds will be used to reduce debt in the short term and provide further funding capacity for growth projects for the Group.

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