Summary:
- Mainboard-listed Centurion Corporation has signed a provisional sales and purchase agreement for the acquisition of Yan Woo Building in North Point, Hong Kong, City & Country has learnt.
- The 26-storey building comprises approximately 26,070 sq ft in gross floor area (GFA) of domestic residential accommodation and approximately 8,216 sq ft in GFA of commercial space.
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Hong Kong media outlets reported on Aug 27 that Centurion had acquired the property for some HK$364 million ($59 million), with plans to convert the asset into student housing or serviced residences that could yield around 5.5%.
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