Wee Hur acquires residential block in Sydney for $52.6 mil to redevelop into student dorm

SINGAPORE (June 4): Wee Hur Holdings announced that its 68.97%-owned Wee Hur PBSA Master Trust, through its wholly owned sub-trust, WH Gibbons Trust, is acquiring a freehold residential block at 13-23 Gibbons Street, Redfern, Sydney, Australia for A$52 million ($52.6 million).

Wee Hur PBSA Master Trust was established by the group for the purpose of undertaking Purpose-Built Student Accommodation (PBSA) in Australia.

The 32-unit freehold residential block has a site area of about 1,365 sqm and is located near two universities – University of Sydney and University of Technology Sydney.

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