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SLB announces acquisition of North Canal Road shophouses, Melbourne office

The Edge Singapore
The Edge Singapore6/9/2022 05:44 PM GMT+08  • 1 min read
SLB announces acquisition of North Canal Road shophouses, Melbourne office
CEO Matthew Ong says these deals marks “good progress” by the company in diversifying its short–term recurring income stream / Photo: Samuel Isaac Chua
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SLB Development has announced a couple of acquisitions of properties meant to give it more recurring income.

The first is a pair of shophouses, 30 and 31 North Canal Road, for $14.38 million. The four-storey buildings have a total land area of 3,207.64 sq ft and a net lettable area of 11,464 sq ft.

Next, SLB is acquiring 225 King Street at, Melbourne for A$35.5 million. This property is a 12-storey office building in the CBD.

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