FKP Property Group announced it has entered into a contract to sell the Gasometer 2 Bank of Queensland development at Gasworks in Brisbane to Charter Hall's Core Plus Office Fund (CPOF) in partnership with a global institutional partner. The building, which is currently under development, will comprise on completion approximately 24,800sqm of lettable commercial office area, including 15 levels of PCA A-grade office space and 1,056sqm of retail space. Bank of Queensland has committed to 12,700sqm of the building's office space on an initial 12 year term and will also occupy approximately 475sqm of the retail space when the building is completed in late 2014, which together will be 53% of the building. The company is also announced that it will acquire the remaining units in `Core-Plus Fund Two' at the end of May 2013 at a 17% discount to NTA and as a result will have no exposure to commercial and industrial external property funds management. This is consistent with FKP's strategy of streamlining its business lines and follows the acquisition of the remaining units in `Core-Plus Fund One'.

FKP Limited is considering the sale of its $1 billion retirement business to Stockland Corp. Ltd. Seng Huang Lee, Executive Chairman of FKP said that the company is in talks with Mark Steinert, Chief Executive of Stockland for the potential sale of the retirement business. Lee added, "We continue to explore ideas of working together. I think the key takeaway is that everyone recognizes that scale is highly beneficial to this retirement business and it makes a lot of sense to build scale. We think it is in the best interests of all stakeholders to create a single, pure-play listed retirement platform. We're now at a point where a line in the sand has been drawn on those discussions."

FKP Limited reported consolidated earnings results for the half year ended December 31, 2012. For the period, the company reported revenue of AUD 159.7 million, loss from continuing operations before income tax of AUD 33.4 million, loss from continuing operations after income tax of AUD 24.7 million or 9.4 cents per basic and diluted security, loss attributable to owners of the company of AUD 38.9 million or 11.1 cents per basic and diluted security against revenue of AUD 97.9 million, profit from continuing operations before income tax of AUD 12.7 million, profit from continuing operations after income tax of AUD 15.4 million or 7.5 cents per basic and diluted security, profit attributable to owners of the company of AUD 0.4 million or 7.5 cents per basic and diluted security a year ago. Net cash flows from operating activities was AUD 36.6 million against net cash flows used in operating activities of AUD 46.0 million a year ago. Payments for property, plant and equipment was AUD 0.6 million against AUD 0.8 million a year ago. Payments for intangible assets were AUD 0.1 million. Underlying profit increased from 40% to AUD 23.6 million, due to the divisional EBITDA increasing by AUD 12.4 million to AUD 42.8 million. The group reported a AUD 28.5 million statutory loss for the period. Cash flows from operating activities increased from AUD 82.6 million to AUD 36.6 million as a result of settlements at Aerial. Underlying EPS is AUD 0.091, compared to AUD 0.099.