The REIT would need to pay a land premium of around $13.9 million to landlord JTC Corporation.
Centurion Accommodation REIT has received provisional permission to develop an additional 6-storey block and to alter the existing 8-storey block in Westlite Ubi.
Upon completion, the number of beds at this property will increase by 540 beds, or around a third, to 2,190 beds.
