After a comprehensive six month Expression of Interest process, Equity Trustees has finalised the outcome for the final parcel of land owned by the R.M. Ansett Trust in Mt Eliza.
The land will be sold as a single parcel on an unconditional basis to a purchaser with existing local interests. The sale price and details of the agreement are confidential under the contract and Equity Trustees is bound by that confidentiality.
The 22.3 hectares of land has a beachfront and is held within four certificate titles, located at the corner of Kunyung Rd and Albatross Ave in Mt Eliza, 45 km from Melbourne.
“We believe this is a great outcome for the Ansett Trust, which will now be able to invest more funds to meet its charitable purpose – to assist children to take their place in life,” said Mick O’Brien, Managing Director, Equity Trustees.
“Importantly, we have been fortunate in this process to be able to carry out our responsibility as trustee to act according to Sir Reginald’s philanthropic intent, and also find a purchaser who has a great understanding of the significance of this parcel of land.
“We believe this is a great outcome for the community,” said Mr O’Brien.
Sir Reginald Ansett was a respected Australia businessman, aviator and philanthropist, best known for founding Ansett Airlines.
Since 2010 when it was established, the Trust has distributed more than $5m to programs that assist children and young people, including those in out of home care, charities that run child-focussed programs and scholarships to schools in the Mornington Peninsula.
Contracts for the deal were signed on Friday 8 June.
The Expression of Interest process was conducted and managed independently by Ernst and Young (EY).
Read the full Media Release here
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About Equity Trustees
Equity Trustees was established in 1888 for the purpose of providing independent and impartial Trustee and Executor services to help families throughout Australia protect their wealth. As Australia’s leading specialist trustee company, we offer a diverse range of services to individuals, families and corporate clients including asset management, estate planning, philanthropic services and Responsible Entity (RE) services for fund managers.
Equity Trustees Superannuation Limited (ABN 50 055 641 757) AFSL 229757is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT) with offices in Melbourne, Bendigo, Sydney, Brisbane and Perth