Diploma Group Limited
(ASX:DGX) says it has signed a contract to sell its Quest Adelaide Terrace Apartment Hotel in Perth.
The apartments are currently under construction and are expected to be completed towards the end of May.
The building has been pre-leased to Quest on a long-term basis and on completion will add 130 keys to the short-term accommodation market.
The contract of sale is expected to settle in June or July.
Diploma Group reported a net profit of $575,000 at 31 December 2015.
