NSW Law Soc's College of Law building sold for approximately $25 Million; in its place a proposed development worth billions in sales and rental: Could NSW Law Society done a lot better?
COMMENT This could well be what replaces the College Of Law building by Ganesh Sahathevan The extracts above are from the College Of Law Ltd's 2016 Annual Report . They concern the sale of the College's. building in 2015. In the charity’s governor's report (page 7) it is quot ed : During the year the college established an endowment fund, utilising cash reserves from the sale of the St Leonards building and operational surpluses. The fund professionally managed and has been established to generate investment returns overs the long term. The initial investment in May 2016 was $45.5 million, with the closing balance being $45.9 million, reflection the fair value gain of $0.4 million. Note 12 (page 37) details the sale of the charity’s St Leonards building originally cost $15M and was sold on 12 Nov ember 2015. A net gain on the disposal of $8.8M was r...