No valuation on the property has been undertaken for the transaction.
The company had invested in the property in July 2014 at a consideration of A$29 million, and says it is “realising a very substantial gain or return in the investment after a period of about five years”.
The proceeds from the proposed disposal is intended to finance the company’s debt repayments and working capital.
Shares in Raffles Education opened 3.7% higher at 8.4 cents on Friday, following the announcement.
