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Tuesday, November 15, 2011

DKLS to buy Melbourne property for A$13.3m

KUALA LUMPUR DKLS Industries Bhd has proposed to participate in the acquisition of a property in Melbourne for A$13.3 million (RM42.96 million).

In a filing to Bursa Malaysia yesterday, the company said the property in Bourke Street, Melbourne, comprises an existing building erected on a piece of land measuring 1,162 sq m.

The existing building was completed in 1931 and was utilised as Barristers Chambers.

It comprises five levels plus basement, mezzanine and a rooftop caretakers unit.

There are also two prime Bourke Street shops and six on site car parks.

The gross building area of the existing building is measuring approximately 5,228 sq m in area.

The existing building is currently vacant except for the two Bourke Street shops which have been leased to two separate retail tenancies.

The company said the existing building was ideal for a range of uses such as commercial owner-occupation, strata subdivision, investment or hotel conversion.

"DKLS proposes to refurbish, re-lease and hold the existing building as a central CBD (central business district) office investment. It is also ideally suited to strata subdivision and selling down to barristers, lawyers and other professionals.

"The cost of refurbishment of the existing building is estima-ted at A$3 million (RM9.69 million)."

By Business Times

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