Listed Singaporean company acquires Redfern site
SGX-listed company, Wee Hur Group, has completed a $46.1 million acquisition of a site on Regent Street in Redfern, Sydney.
Firm: Johnson Winter & Slattery (Wee Hur Group).
Deal: Wee Hur Group has purchased a 1366-square metre site at 104-116 Regent Street, Redfern, “which it plans to develop into university accommodation”, JWS said in a statement. The development will include, the firm continued, a student housing complex with 384 beds and 200 square metres of ground-floor shops.
The site was acquired from BP Australia.
Value: $46.1 million.
Key players: The JWS team was led by partner Peter Trevaskis, who was supported by senior associate Stephanie Chun and associate Rita Bradshaw, with partners Samantha Daly and Prashanth Kainthaje providing environment and planning and tax and structuring advice respectively.
Deal significance: Mr Trevaskis said the firm is “proud” to have supported Wee Hur on these two investments.
“Wee Hur has continued to actively invest in student accommodation in Australia’s major cities, despite the current downturn caused by the COVID-19 pandemic,” he said.
“On the back of these two transactions, the company will be well positioned to capitalise on the revival of this sector when international travel and the economy return to pre-COVID levels. We are delighted to have played a role in helping Wee Hur secure these two sites.”