Straits Trading

Straits Trading: Announced the acquisition of 318‐332 Flinders Street, Melbourne, Australia, for AUD61m (est $79.3m), from Challenger Life Nominees No 2 Limited. The property, a historic hotel built in 1912, is currently leased and operated by the co under the hotel name, Rendezvous Grand Hotel Melbourne. The hotel was valued at AUD60m on 26 June by CBRE. Straits Trading currently owns two hotels in Perth, the flagship Rendezvous Grand Hotel Singapore on Bras Basah Road, and leases and manages 10 other hotels in Australia and Shanghai.