Staff Reporter
,
Singapore
Photo from Four Points by by Sheradon, Melbourne Docklands
The company will use the proceeds to repay bank borrowings and fund working capital.
Hiap Hoe has sold Four Points by Sheraton, Melbourne Docklands to WFM Financial Holdings for $83m (A$96m).
Hiap Hoe will use the proceeds to repay its bank borrowings and for working capital use.
Melbourne Docklands is located on a waterfront at the edge of Victoria Harbour, overlooking the Melbourne Central Business District.
Hiap Hoe acquired the waterfront site on 2 December 2013 and subsequently developed it into the hotel, which opened on 28 March 2017.
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