reporter2
04-10-17, 20:33
Roxy-Pacific to scoop up more residential sites in Guillemard Lane for S$33.5m
Oct 03, 2017
Anita Gabriel
ROXY-Pacific Holdings is once again muscling up its landbank in Singapore, this time with plans to acquire more freehold residential sites at Guillemard Lane for S$33.5 million.
The company's associate RH Guillemard has entered into agreements to acquire the plots situated at 2 and 6 Guillemard Lane, which span a total land area of 14,030 sq ft.
Under the 2014 Master Plan, the site is zoned for residential use with an existing gross plot ratio of 2.8, said the company in an announcement.
The Singapore-listed real estate developer said it plans to combine these sites with those at 12 and 14 Guillemard Lane for residential development, which come up to a total estimated land area of 25,601 sq ft.
Roxy-Pacific had announced the acquisition of 12 and 14 Guillemard Lane, also freehold residential sites, in mid-September for S$22.5 million.
The latest acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on the group's consolidated earnings and net tangible assets per share for the current financial year ending December 2017.
In August this year, the builder also bought a freehold plot in River Valley Road for S$110 million, which it reportedly plans to build into an apartment block of at least 18 storeys.
It has also been scooping up assets abroad. In late September, Roxy-Pacific entered into an agreement to buy a property in Auckland, New Zealand for NZ$63 million (S$61.7 million). Before that, it picked up its second hotel asset in Japan for some S$37 million.
In July, it entered into a definitive pact for the proposed sale of its freehold property in Sydney, Australia for A$158 million (S$168.2 million).
Oct 03, 2017
Anita Gabriel
ROXY-Pacific Holdings is once again muscling up its landbank in Singapore, this time with plans to acquire more freehold residential sites at Guillemard Lane for S$33.5 million.
The company's associate RH Guillemard has entered into agreements to acquire the plots situated at 2 and 6 Guillemard Lane, which span a total land area of 14,030 sq ft.
Under the 2014 Master Plan, the site is zoned for residential use with an existing gross plot ratio of 2.8, said the company in an announcement.
The Singapore-listed real estate developer said it plans to combine these sites with those at 12 and 14 Guillemard Lane for residential development, which come up to a total estimated land area of 25,601 sq ft.
Roxy-Pacific had announced the acquisition of 12 and 14 Guillemard Lane, also freehold residential sites, in mid-September for S$22.5 million.
The latest acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on the group's consolidated earnings and net tangible assets per share for the current financial year ending December 2017.
In August this year, the builder also bought a freehold plot in River Valley Road for S$110 million, which it reportedly plans to build into an apartment block of at least 18 storeys.
It has also been scooping up assets abroad. In late September, Roxy-Pacific entered into an agreement to buy a property in Auckland, New Zealand for NZ$63 million (S$61.7 million). Before that, it picked up its second hotel asset in Japan for some S$37 million.
In July, it entered into a definitive pact for the proposed sale of its freehold property in Sydney, Australia for A$158 million (S$168.2 million).