Hatten however intends to develop a mixed-use development on the land, which may comprise retail and hospitality units as well.
SINGAPORE (Mar 6): Hatten Land intends to foray into the Australian real estate market by acquiring a land parcel in Southbank, Melbourne, from Australia’s Sundale Developments for a consideration of not more than A$15.8 million ($15.25 million).
The land has a planning permit to develop a multi-storey building comprising dwellings, retail premises and offices with an estimated gross floor area (GFA) of 25,000 sq m.
