Feature-Roxy, a 50%-indirectly-owned subsidiary of Roxy-Pacific Holdings, has acquired a commercial building in Sydney, Australia for A$81 million ($82.9 million).
The 14-storey commercial building is located at 117 Clarence Street, offering views through Sydney's Central Business District and out to the Darling Harbour.
It is a freehold property measuring a total site area of about 0.3 acre, with a net lettable area of about 3.1 acres.
Roxy-Pacific says the acquisition will be funded by internal funds and bank borrowings, following an agreement signed on Dec 3.
The property presents a "prime investment opportunity" and has potential to be a stable source of rental income for the group, it says.
Feature-Roxy is a 50%-owned by Roxy-Pacific Investments, an indirect wholly-owned subsidiary of Roxy-Pacific.
Shares of Roxy-Pacific ended lower at 48.5 cents on Dec 3.
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The 14-storey commercial building is located at 117 Clarence Street, offering views through Sydney's Central Business District and out to the Darling Harbour.
It is a freehold property measuring a total site area of about 0.3 acre, with a net lettable area of about 3.1 acres.
Roxy-Pacific says the acquisition will be funded by internal funds and bank borrowings, following an agreement signed on Dec 3.
The property presents a "prime investment opportunity" and has potential to be a stable source of rental income for the group, it says.
Feature-Roxy is a 50%-owned by Roxy-Pacific Investments, an indirect wholly-owned subsidiary of Roxy-Pacific.
Shares of Roxy-Pacific ended lower at 48.5 cents on Dec 3.
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