Natural Cool sells industrial property for $26.5 million

Natural Cool Holdings has agreed to sell an industrial property to Super Steel for $26.5 million.

The sale of the property at 20 Benoi Crescent will enable it to unlock the value of the asset and redeploy the resources as part of the net sale proceeds will be used to reduce group borrowings, thereby strengthening the balance sheet and reducing interest expense.

The proceeds will also be used for working capital to generate future growth.

No operational impact is expected from the sale.