Centurion Acquires 25% Stake in Student Accommodation in Australia

MT Newswires12-01

Centurion (SGX:OU8) acquired a 25% stake in a 472-bed purpose-built student accommodation project in Perth in Western Australia, for AU$6 million, according to a Monday filing with the Singapore Exchange.

The project has already received a development approval and will be run under the company's student accommodation brand, EPIISOD, following its completion in December 2027.

The investment was made through the company's subsidiary, Centurion Overseas Investment (II), which subscribed for around 6 million shares in Stirling Highway Development, a subsidiary of Centurion Properties Australia Investment. The remaining 75% stake in the accommodation is held by Centurion Properties Australia Investments, a wholly-owned subsidiary of Centurion's controlling shareholders.

Shares of the company were down over 1% in Monday trading.

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