Centurion to acquire Yan Woo building in Hong Kong for US$46.4 million
It plans to undertake progressive renovations to the building after the acquisition
Singapore-based real estate firm Centurion Corporation has agreed to purchase the Yan Woo Building in Hong Kong for US$46.4 million. The 26-story commercial and residential property will be acquired through a 50-50 joint venture with the company's controlling shareholder, Centurion Properties. The building, originally constructed in 2000, consists of 42 apartment units and nine commercial units, with a total floor area of approximately 34,286 sq ft.
Upon completion of the acquisition, Centurion plans to undertake gradual renovations to the apartment units and lease them as high-quality rental accommodations. The commercial space, which spans the ground to second floors, is expected to generate rental income after the acquisition. The property is currently under a 75-year government lease, which can be renewed for an additional 75 years.
The acquisition is set to be finalized on November 28, 2026, with funding provided through a mix of internal resources and external financing.
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