SP Setia acquires fourth piece of land In Melbourne For AUD$10 Million

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 SP Setia acquires fourth piece of land In Melbourne For AUD$10 Million

KUALA LUMPUR, April 14 (Bernama) — Property developer, SP Setia Bhd, has acquired its fourth piece of land in Melbourne, Australia for A$10 million with an estimated gross development value of A$38 million.

In a statement today, the company said the 850-square metres land sits on a prized location between Chapel Street and Greville Street and only 4.5km southeast of the Melbourne Central Business District

“It has a permit approved for an eight-storey building with 47 apartment units plus an office and retail outlets on the ground floor and is expected to be a popular high-end boutique project which will have wide appeal to a broad range of purchasers,” it said.

— BERNAMA


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