SINGAPORE (Sept 29): Hanwell Holdings, the provider of consumer essentials, is acquiring a property at Osaka for JPY575 million ($6.9 million) to help expand its food business in Japan.

“The property is strategically situated in the entertainment area of Dotonbori which is Osaka’s most famous tourist destination that offers ample lifestyle, food and beverage amenities,” says Hanwell in a filing, “The property has the potential to be a core investment of the company.”

Hanwell says subsidiary Nagomi on Friday entered into a sale and purchase agreement with sellers to purchase the property located at Osaka-shi Chuo-ku Dotonbori 1-chome which comprises a five-storey building with an underground basement that has a total floor area of 427.78 sqm and land area of 93.56 sqm.

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