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28-04-2017, 04:55 PM
A study of Centurion’s business expansion
By: Michelle Teo
28/04/17, 03:19 pm
SINGAPORE (April 28): As GIC and Temasek Holdings make headlines for increasing their investments in international student accommodation, one local company has been steadily assembling its own student housing portfolio.
Centurion Corp, which has built a business in workers’ dormitories, is expanding its stable of student properties in Australia and the UK. And with this enlarged portfolio, it is hoping to seek a secondary listing in Hong Kong.
Recently, Centurion announced it was partnering South Australian developer Kyren Group on a new 280-bed student accommodation in Adelaide’s CBD. Centurion will acquire a 21-storey property from Kyren, which is building a mixed development on freehold land that includes a hotel and serviced apartments.
(See also: Centurion to develop 280-bed students dorm in Adelaide)
The total cost of the student accommodation, including land and development cost, is about A$45.5 million ($48 million). It is expected to be completed at the end of next year, in time for students starting the 2019 academic year at the University of Adelaide and the University of South Australia.
More details in http://www.theedgemarkets.com.sg/study-c...-expansion
By: Michelle Teo
28/04/17, 03:19 pm
SINGAPORE (April 28): As GIC and Temasek Holdings make headlines for increasing their investments in international student accommodation, one local company has been steadily assembling its own student housing portfolio.
Centurion Corp, which has built a business in workers’ dormitories, is expanding its stable of student properties in Australia and the UK. And with this enlarged portfolio, it is hoping to seek a secondary listing in Hong Kong.
Recently, Centurion announced it was partnering South Australian developer Kyren Group on a new 280-bed student accommodation in Adelaide’s CBD. Centurion will acquire a 21-storey property from Kyren, which is building a mixed development on freehold land that includes a hotel and serviced apartments.
(See also: Centurion to develop 280-bed students dorm in Adelaide)
The total cost of the student accommodation, including land and development cost, is about A$45.5 million ($48 million). It is expected to be completed at the end of next year, in time for students starting the 2019 academic year at the University of Adelaide and the University of South Australia.
More details in http://www.theedgemarkets.com.sg/study-c...-expansion
Specuvestor: Asset - Business - Structure.