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.