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Chip Eng Seng acquires Australian property for A$2.5 mil

Atiqah Mokhtar
Atiqah Mokhtar6/9/2021 5:58 PM GMT+08  • 2 min read
Chip Eng Seng acquires Australian property for A$2.5 mil
The property adjoins commercial properties and a hotel already purchased by Chip Eng Seng in 2018.
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Chip Eng Seng Corporation is acquiring a commercial property located at 80-82 Hindley Street in Adelaide, Australia for a purchase price of A$2.5 million ($2.6 million).

The property consists of a commercial building comprising two-storeys and a basement, with direct frontage towards Hindley Street. The property is situated on a freehold site and has a land size of approximately 287 square metres.

Currently, the property is fully tenanted and is occupied by two tenants under commercial leases which are expiring in September 2023 and November 2023 respectively. The leases also have options to renew for a further term ranging from two to three years.

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