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Centurion Corp's JV signs master lease for Hong Kong property

The property is within walking distance to the Hong Kong Polytechnic University and Hong Kong Metropolitan University.

Centurion Corporation, via a joint venture, has signed a master lease for a property that will be used for its foray into the Hong Kong student accomodation market.

The lease commenced on May 16 for a 5-year term and it comes with options to renew for 2 years and then two further extensions of another 1-year each.

The joint venture, Centurion-Lionrock, is leasing 15 floors of a building at Ma Tau Wai Road and will renovate it into a 89-bed student accommodation.

The property is within walking distance to the Hong Kong Polytechnic University and Hong Kong Metropolitan University.

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The property is expected to be operational in September.

Centurion shares closed at 54 cents on May 16, down 1.82% for the day but up 31.71% year to date.

 

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