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International

OKP Holdings jointly acquires Perth property for A$43.5 mil

By Angela Teo

/ EdgeProp |

February 7, 2018 10:33 PM SGT

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Updated, Feb 7, 2018, 10:50 p.m., to state that this is a joint acquisition, instead of as previously published.

On Feb 7, Singapore-listed infrastructure and civil engineering company OKP Holdings announced that it is jointly acquiring a freehold office complex in Perth, Western Australia, with Singapore civil engineering and construction provider Hwa Seng Builder for A$43.5 million ($45 million).

This marks the group’s first overseas investment property, comments Or Toh Wat, group managing director at OKP.

Located at Bennett Street, off Adelaide Terrace, the nine-storey property sits on land measuring 3,115 sq m, and is zoned “Office/Residential”. It comprises two adjoining buildings with a total net lettable area of about 10,219 sq m, as well as a multi-storey car park.

According to OKP, the property is within a 900m radius of Perth’s CBD, and is near the Hay Street Mall retail precinct and Claisebrook railway station.

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