Listed property investment and development group Trafalgar Corporate Group (ASX:TGP), today announced that the TGP/Brookfield Multiplex Rhodes joint venture partners have entered into contracts for the sale of Lot 103, a waterfront lot at its shoreline residential development project for $19.5 million. The sale is subject to Foreign Investment Review Board approval.

Trafalgar’s CEO Braith Williams said “The sale continues our previously stated objective of progressively withdrawing from property development activities by 30 June 2010. The conditional sale is scheduled to settle in December 2009 and proceeds will be used to repay project debt.

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