The Pilbara region, in which this asset is sited, is Australia's largest resource and employment centre, accounting for example 90% of the iron ore production, supporting over 13,000 jobs.
Dormitory operator Centurion Corporation is paying A$45 million to acquire an asset in Western Australia meant for the mining industry, marking its entry into a new specialised segment. Centurion Corp believes this acquisition will be earnings accretive.
The asset, at Karratha, consists of Velocity Village, a 93-room worker accommodation facility with 186 beds, and Velocity Motel & Bistro, which offers 135 executive-style single-occupancy rooms and associated amenities.
