Roxy-Pacific agrees to sell Sydney property to another buyer

SINGAPORE property and hospitality group Roxy-Pacific Holdings has agreed to sell a Sydney property for A$158 million (S$163 million) to another buyer after the initial deal fell through, the group said in a Singapore Exchange filing on Friday.

Its wholly-owned subsidiary Roxy-Pacific Goulburn has entered into a head of agreement with Fortius Funds Management and its nominee instead for the sale of the group's freehold property located at 59 Goulburn Street, Sydney.

The proposed sale remains subject to the findings of the due diligence exercise to be carried out by the buyers, as well as further definitive sale agreements.