Chip Eng Seng subsidiary ups shareholding in 242 West Coast Highway Scarborough

CEL Australia Pty Ltd has increased its shareholding in 242 West Coast Highway Scarborough Pty Ltd from 75% to 100%.

242 West Coast Highway Scarborough Pty Ltd is a 50:50 joint venture company between CES Corporation Australia Pty Ltd and CC 242 West Coast Highway Scarborough Pty Ltd. The JVC has acquired a parcel of land at 242 West Coast Highway, Scarborough, Western Australia for A$20 million.

The 1.02 hectare site in Scarborough is for a mixed development comprising of three blocks of 12-storey buildings with approximately 150 residential apartments, 80 serviced apartments, 9 townhouses, commercial offices, retail shops, and parking facilities.

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