Roxy-Pacific associate to acquire property in Revesby, Australia for A$9 million

ROXY-PACIFIC Holdings has, via  RPPG (Revesby), entered into an agreement with BN Revesby PT to acquire a property in New South Wales, Australia for A$9 million (S$9.01 million). 

The property, which is located at Mavis Street in Revesby, is in an industrial area and spans 8,433 square metres, said Roxy-Pacific in a release to the Singapore Exchange on Friday. It comprises a mix of warehouse and office space.

The property is being acquired by an indirect associate of the group, RPPG (Revesby). Fifty per cent of RPPG is held by the company's indirect wholly-owned subsidiary, Roxy-Pacific Developments, and the remaining 50 per cent is held by PGG (Revesby) Pty Ltd.

The acquisition will be financed through internal funds, it added. 

In a separate filing on Friday, it also said that its subsidiary, Roxy-Pacific Hotels, has entered into a sale agreement for the proposed sale of the group's stake in a joint venture for A$6.125 million. The JV owns a property located at 609 Wellington Street in Perth.