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Having mastered the art of specialized living, Centurion Corporation is adding a new type of accommodation to its portfolio. Costing A$45 million (approx. S$41.05 million), the acquisition assets are sited in Australia's resource heartland which attracts a diverse mix of workers across mining and extraction, construction, engineering, oil and gas operations, and energy infrastructure. |
Aside from the foray into the dusty red beauty of Karratha, Centurion (market cap: S$1.4 billion, +24% year-to-date) manages a massive portfolio of 81,388 beds across 40 operational assets:
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Purpose-Built Worker Accommodation (PBWA): Operating under the Westlite brand, Centurion is a leader in Singapore, Malaysia, and China.
These assets are designed for workers of the industrial and construction sectors. -
Purpose-Built Student Accommodation (PBSA): Through its Dwell and EPIISOD brands, Centurion caters to students across the UK, Australia, and China.
In fact, Centurion just launched its premium EPIISOD Macquarie Park in Sydney earlier this year.
Centurion also acts as the sponsor for the Centurion Accommodation REIT (CAREIT), focusing on these specific high-performing real estate assets.
| Worker accommodation + motel + bistro |
Centurion's target assets in Karratha comprise 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.
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Asset |
Details |
Target Audience |
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Velocity Village |
93 double-occupancy, two-bedroom units with full kitchens/laundries. |
Operational workforce in the resources sector. |
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Velocity Motel & Bistro |
135 executive-style single rooms, plus a pool, bar, and conference rooms. |
Professional and managerial staff. |
Likely to operate with higher profit margins, the on-site bistro is open to the wider precinct and can serve up to 500 guests, making it a community hub for both residents and nearby businesses.
You might wonder why a Singapore-listed giant is eyeing a remote part of the Pilbara region.
Western Australia accounts for roughly two-thirds of Australia’s mining production and over 90% of its iron ore using a workforce that is largely fly-in, fly-out (FIFO).
By acquiring an existing, income-generating asset, Centurion ensures the assets are earnings-accretive right away, as illustrated below:
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Metric |
Before Acquisition (FY2025 Actual) |
After Acquisition (Pro-forma) |
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Net Profit Attributable |
S$114.8 million |
S$120.6 million |
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Earnings Per Share (EPS) |
13.65 cents |
14.34 cents (+5.1%) |
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Net Tangible Assets (NTA) |
S$1.47 per share |
S$1.47 per share (Neutral) |
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→ See also: Beyond the One-Offs: CENTURION’s Core Profits Signal Long-Term Value