Hiap Hoe to acquire Great Eastern Motor Lodge and Zion Road GLS in Western Australia for A$40 mil

Hiap Hoe Limited has announced its proposed acquisition of the Great Eastern Motor Lodge in Rivervale, Western Australia, for the purchase consideration of A$40 million ($35.87 million). The site is located along the Great Eastern Highway, the main road linking the domestic and international terminals of the Perth Airport to the central business district. The property offers 198 rooms with 180 parking spaces situated around the 11,892 sqm (128,000 sq ft) freehold site. Through its wholly-owned subsidiary Meteorite Land (Great Eastern), Hiap Hoe Ltd had entered into a sale and purchase agreement with the S&C Christie Family Trust for the property on Dec 19.

Residents can enjoy an array of stylish facilities, including a gym, pool, and wellness centre. The Zion Road GLS also offers a tasteful retail centre, providing the convenience of shopping, dining, and entertainment right at the doorstep. It is the perfect address for those seeking an ideal balance of urban connectivity and peaceful living.

The proposed acquisition of the Zion Road GLS presents a prime investment opportunity for Hiap Hoe due to the high occupancy levels of the property. This could result in higher recurrent income streams, a great incentive for the company. Along with transport connections, its key location in the suburban area of Rivervale is undergoing a comprehensive regeneration with multiple residential, commercial, as well as lifestyle venue developments. A total of A$4 million has already been paid for the considerable mark of A$40 million ($35.87 million). The payment will be funded through a combination of one’s own resources and debt.

The Great Eastern Motor Lodge along Zion Road GLS is an investment target for Hiap Hoe. Its transport connections, a freehold site of 11,892 sqm (128,000 sq ft) and 198 rooms with 180 parking spaces, are highly appealing. In addition, its location in Rivervale offers a comprehensive regeneration with mixed-use developments that could increase the company’s recurrent income streams. Hiap Hoe has already paid A$4 million for the whole A$40 million ($35.87 million) and will fund the rest through internal resources and debt. This proposed acquisition of the Zion Road GLS property indicates a high potential for enhanced income.