Roxy-Pacific associate buys Sydney commercial building for A$81m

PROPERTY and hospitality group Roxy-Pacific Holdings said on Friday morning that it has, through a 50-per cent indirectly-owned associate company, acquired a 14-storey commercial building at 117 Clarence Street, Sydney, Australia, for A$81 million (S$82.9 million).

It is a freehold property with a total site area of approximately 1,190 square metres, and net lettable area of approximately 12,571 square metres.

Roxy-Pacific said it believes the property presents a prime investment opportunity and has potential to be a stable source of rental income for the group.