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Sing Holdings to acquire Melbourne hotel for A$107m
SING Holdings is looking to acquire Travelodge Docklands - a hotel in Melbourne - for A$107 million (S$113 million).
It said on Monday it has signed a conditional property sale agreement with GL InvestmentCo Melbourne, putting up a deposit of A$5.35 million or 5 per cent of the purchase consideration.
Travelodge Docklands will be the company's first hospitality asset, and its first foray into the Australian property market.