DIPLOMA GROUP LIMITED
24 September 2015
Australian Securities Exchange Exchange Plaza, 2 The Esplanade PERTH WA 6000
Dear Sandra
In accordance with Listing Rule 3.1, Diploma Group Limited (Diploma) advises that its wholly owned subsidiary Diploma Properties Pty Ltd has settled the sale of the Quest Rockingham project.
Diploma announced on 13 April 2015 it had entered into a Contract of Sale for the development for $22m, subject to a number of conditions precedent being satisfied.
Practical Completion of the project occurred on 28 July 2015 with lease commencement and hotel opening occurring on 3 August 2015. The 96 key seven level serviced apartment hotel was constructed by Diploma Group's wholly owned subsidiary Diploma Construction (WA) Pty Ltd in 56 weeks inclusive of all fit out.
Diploma is currently undertaking construction of its Capri Apartments development on the adjacent site with Practical Completion expected in January 2016.
Capri, a $30m development, is 90% pre-sold with settlements expected to commence in February 2016.
end
Quest Rockingham - 22 Flinders Lane Rockingham
Yours Sincerely
DIPLOMA GROUP LIMITED|
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