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Virgin Blue to sell and lease back HQ

written by WOFA | October 16, 2009

Virgin Blue has announced that it has appointed Jones Lang LaSalle to manage its property portfolio, including managing the sale and leaseback of its Brisbane headquarters, the ‘Virgin Village’.

According to Jones Lang LaSalle, Virgin Blue will continue to be the sole tenant at the campus-style Virgin Village, which houses approximately 1000 employees. No estimate of the value of the sale has been given, but it is expected that this will help to bolster Virgin Blue’s cash reserves following a major capital raising earlier this year which raised $231.4 million.

Under the three year agreement Jones Lang LaSalle will manage all Virgin Blue leases, licenses and owned property assets across Australia, New Zealand and the South Pacific.


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