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Sim Lian Acquires Property In Victoria, Australia Worth AUD 30.2 Million
Daily Bulletin | 29 October 2015

Sim Lian Group has announced the proposed acquisition of Lara Village Shopping Centre, a freehold investment grade neighborhood shopping centre located in Victoria, Australia, for a consideration of AUD 30.2 million.

The centre, completed in December 2014, is a brand new convenience-based neighborhood shopping centre located within the established and growing suburb of Lara, approximately 60km southwest of the Melbourne central business district, with a total gross lettable area of about 6,449 square metres.

The group intends to fund the acquisition of the centre with a combination of internal funds and bank borrowings. The acquisition is not expected to have any material impact on the consolidated earnings and net tangible assets per share of the group for the current financial year ending 30 June 2016.

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