SINGAPORE (Dec 26): Lian Beng, the construction group, is selling its third property in Melbourne, Australia, this year.

Wholly-owned subsidiary, Lian Beng Franklin Investment, has entered into a contract of sale for the proposed disposal of the property at 50 Franklin Street for an aggregate sale consideration of A$90.15 million ($93.5 million).

Lian Beng Franklin Investment in Nov 2016 acquired the freehold property for a purchase consideration of A$51.5 million.

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