Hiap Hoe buys another Aussie asset for AUD105m
It spans 11,922 square metres.
According to OSK, after the announcement of its second property pruchase in Melbourne yesterday, Hiap Hoe moved forward in acquiring a new property at 206 Bourke Street in Melbourne, for AUD105m.
Here's more:
The site sits on a total of 11,922 square metres, of which 80% will be leased for retail purpose, and the remaining 20% allocated to office use.
The asset attracts high return due to ts high occupancy rates with a strong tenant mix. CEO Teo Ho Beng commented that the acquisition is in line with our strategy of growing our recurring income stream, seeking assets that possess similar strong attributes.