Saturday 18 Jan 2025
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SINGAPORE (June 30): Developer and construction group Sim Lian Group has acquired Dalyellup Shopping Centre, a freehold investment grade neighbourhood shopping centre in Western Australia, for A$31.6 million ($31.7 million).

SLG Property Trust II will acquire the property through a newly constituted sub-trust known as SLG Dalyellup Trust. RCP Property Australia as the trustee of SLG Dalyellup Trust, entered into the sale and purchase agreement with Fabcot on June 30 for the acquisition.

The open market valuation of the Centre is A$31.8 million based on a valuation on April 1 conducted by independent valuer Jones Lang LaSalle.

Sim Lian intends to fund the acquisition through a combination of internal funds and bank borrowings.

Located in the suburb Dalyellup, the shopping centre has a gross lettable area of 6,446 sq m and started operations in April 2015. Its anchor tenant is Woolsworth Supermarket and occupies 68% of the mall’s total GLA. Other tenants include a pharmacy, food and beverage outlets, gymnasium and other trade and services.

The mall is also 8km to the south of the Bunbury central business district, and west of Bussell Highway, a major road that links to Bunbury and Margaret River.

Sim Lian’s shares closed higher at 88.5 cents on Thursday.

 

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