Boyuan expands portfolio, buys a Western Syd hotel

Company News

by Jessica Amir

Boyuan Holdings (ASX:BHL) has acquired the Peachtree Hotel in Penrith, Western Sydney to provide the company with additional revenue and growth.

The property development company says the purchase enhances its portfolio, as it allows Boyuan to enter the hotel hospitality sector, in a key growing corridor of New South Wales.

The company says as the property is close to the Penrith CBD on Castlereagh Road, there is significant upside for growth with future upgrades, refurbishments and development opportunities.

Boyuan’s 65 per cent owned company, Integer Securities, will continue to identify suitable assets so the company can develop a portfolio of hotels in years to come.

The company did not provide the purchase amount of the hotel.

Shares in Boyuan Holdings (ASX:BHL) last traded 5.3 per cent higher yesterday to $0.20.

 

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