Keong Hong to acquire office property in Japan for $10.6m
It’s located in Osaka.
Keong Hong Holdings will acquire an office building and its in Osaka, Japan for a total consideration of $10.6m.
The acquisition comprises ownership of the land and building located at 4-4-10 Honmachi, Chuo-ku, Osaka-shi, Osaka.
The land size is approximately 344.65 square meters and the building comprised of 9-storey and a basement, has a net rentable area of 1,686.24 square meters. The Property is located near Honmachi District which is a 2-minute walk from Honmachi subway station.
As at 4 December 2015, the Property is currently 92.8% tenanted, mainly occupied by offices.
Keong Hong said that the acquisition will provide an alternative income stream for the group through rental income.