Roxy-Pacific Holdings has entered into contracts to acquire two vacant sites located at No. 14 Cowper Street (Lot 10) and No. 8 Elger Street, Glebe, Australia (Lot 11) for $67.4 million.
The properties are two city fringe residential development sites comprising an aggregate land area of 7,125 sqm, with a development potential of 248 residential units subject to regulatory approval.
The acquisition deal was signed by indirect subsidiary, Roxy Gordon Pty Ltd which will be renamed to Roxy-Pacific Glebe Pty Ltd.
Roxy-Pacific will finance the acquisition by internal funds and bank borrowings, and is not expected to have any material impact on the earnings per share and the net tangible assets per share of the company for the financial year ending Dec 31, 2015.
Roxy-Pacific closed flat at 48 cents on Monday.
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The properties are two city fringe residential development sites comprising an aggregate land area of 7,125 sqm, with a development potential of 248 residential units subject to regulatory approval.
The acquisition deal was signed by indirect subsidiary, Roxy Gordon Pty Ltd which will be renamed to Roxy-Pacific Glebe Pty Ltd.
Roxy-Pacific will finance the acquisition by internal funds and bank borrowings, and is not expected to have any material impact on the earnings per share and the net tangible assets per share of the company for the financial year ending Dec 31, 2015.
Roxy-Pacific closed flat at 48 cents on Monday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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