Diploma Group Limited (DGX) announced it has acquired an 872m2 property located at 69 Adelaide Terrace in the Perth CBD, on the corner of Plain Street. Diploma’s property division continues its dominance having recently completed several high rise residential towers in Perth’s CBD. The site is earmarked for a residential apartment tower with approximately 70 one and two bedroom apartments over 20 levels. A number of apartments within the development are expected to feature views of the Swan River and will be targeted towards buyers seeking quality and value for money. Construction is anticipated for completion late in 2014 following a 24 month construction programme.
Diploma Chief Executive, Nick Di Latte, is pleased to have secured another site on Adelaide Terrace, East Perth. ‘This acquisition ensures our property division’s residential development program in the Perth CBD and metropolitan regions will continue beyond 2013. It is comforting to know Diploma is supplying apartments to a market which has shown a consistent appetite for a quality, inner-city product’ said Mr Di Latte.
http://www.traderdealer.com.au/Fundamentals/DGX
Tags: acquisition, Construction, DGX, Diploma Group, New development
