Associate company of Roxy-Pacific in deal to sell freehold property in Sydney for A$153m

FEATURE-ROXY, an indirect associate company of Roxy-Pacific Holdings on Friday, entered into a non-binding heads of agreement with an Australian domiciled institutional investor for the sale of a freehold property in Sydney for A$153 million (S$153.4 million).

Feature-Roxy appointed Savills (NSW) and Incre Australia as the joint marketing agents for the sale of the property - 117 Clarence Street - on March 1.

Roxy-Pacific said in a filing with the Singapore Exchange on Friday evening that it will announce any material developments on the proposed sale as and when appropriate.

Its shares closed at S$0.51 on Friday, unchanged from the previous day.