Dormitory operator Centurion Corp. is paying A$45 million ($35.8 million) to acquire an asset in Western Australia designed for the mining industry, marking its entry into a new specialized segment. Centurion Corp. said the acquisition will be earnings accretive, according to Edge Singapore.
The asset in 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.
The Pilbara region, where the asset is located, is Australia’s largest resource and employment center, accounting for 90 percent of the country’s iron ore production and supporting more than 13,000 jobs.
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