Centurion to acquire a site in Adelaide, Australia for S$22.3 million
It is planning a mixed-use accommodation asset on the site in Adelaide’s retail, cultural and education hub
Centurion Corporation plans to purchase six parcels of land in Adelaide, Australia for S$22.3 million, with the aim of developing a mixed-use accommodation property. The site, located at 199-200 North Terrace and 12-20 Gawler Place, covers three plots of land and existing building, plant, equipment, and other assets. The acquisition, subject to planning and regulatory approvals, is expected to bolster Centurion's accommodation footprint in Australia.
A joint venture company, 200 North Terrace Pty, will be set up to handle the contract of sale, with Centurion holding a 50% indirect interest. The cash consideration, including a 10% deposit payable within seven days and the remaining balance upon completion, will be funded by internal resources. The sale is anticipated to be finalized by December 24, 2026, or no later than March 31, 2027.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
