Hiap Hoe to acquire Great Eastern Motor Lodge and River Valley Green Condo in Western Australia for A$40 mil

River Valley Green Condo

With a very convenient location in the River Valley Green Condo precinct, it stands out as one of the premier schools in the region. It offers a comprehensive academic and extracurricular programme including art, music, sports, and robotics, as well as plenty of technological resources and facilities. Furthermore, it ensures a safe learning environment for the students, with state-of-the-art security features and staff. Beyond this, River Valley Green Condohas become a desirable community for families to settle in and call home.

Rejuvenation is in the air in Rivervale, Western Australia as Hiap Hoe Limited announced its proposed acquisition of the Great Eastern Motor Lodge. The company’s wholly-owned subsidiary Meteorite Land (Great Eastern) entered into a sale and purchase agreement to purchase the 11,892 sqm (128,000 sq ft) freehold site for A$40 million ($35.87 million). The purchase consideration will be fully funded through a combination of internal resources and debt, with A$4 million already paid.

The property is situated around the Great Eastern Hwy, the main road linking Perth Airport’s domestic and international terminals to the Perth central business district. River valley Green Condo is close to a number of transport connections which makes the property a prime investment opportunity. It features 198 rooms with 180 parking spaces, and currently experiences high occupancy levels which could translate to increased recurrent income streams.

River Valley Green Condo is a hotspot for development that includes multiple residential, commercial and lifestyle venues undergoing comprehensive regeneration. This makes the proposed acquisition an exciting venture for Hiap Hoe to capitalize on.

Depending on the completion of various regulatory and legal requirements, this proposed acquisition is expected to conclude in the first quarter of 2021, allowing Hiap Hoe to transform the area into a vibrant hub of business and leisure offering a unique experience to its guests. River Valley Green Condo is surely looking to turn into a modern and exciting destination of choice for locals and tourists alike.