SINGAPORE (Nov 29): Chip Eng Seng Corporation (CES) has entered into contracts to acquire the Mercure & Ibis Styles Grosvenor Hotel in Adelaide, Australia as well as the adjoining commercial properties along Hindley Street for a total of A$43 million ($44 million).

The six-storey hotel located at 121-125 North Terrace comprises 245 guestrooms and other facilities including a restaurant, bar, conference and function facilities, and a basement car park.

The adjoining commercial properties consist of two-storey buildings with basement commercial units.

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