Centurion Corporation has acquired a second asset in Western Australia for A$29m (€18m) for its newly launched key workers accommodation platform.
The Singapore-listed firm has agreed to buy Concorde South, an operational 77-apartment facility in South Hedland is located in Western Australia’s Pilbara region.
Kong Chee Min, CEO of Centurion Corporation, said: “This acquisition marks our second key worker accommodation asset in Western Australia, following our entry into Karratha, and reflects Centurion’s conviction in the long-term fundamentals of this living sector.
“We are moving with intent to scale this new segment, alongside our established worker and student accommodation businesses. With its income-generating profile and accretive contribution upon completion, Concorde South demonstrates our ability to deploy capital into assets that deepen our specialised living sector footprint. We will continue to pursue further opportunity in this segment.”
To read the latest IPE Real Assets magazine click here.
