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Roxy-Pacific secures sale order from High Court for purchase of freehold site Wilshire
ROXY-PACIFIC Holdings said on Wednesday that it has been granted an order for sale from the High Court for its announced acquisition of freehold residential property in District 10 known as Wilshire.
The firm partnered Tong Eng Group's managing director Teo Tong Lim to acquire the residential site at Farrer Road for S$98.8 million, it announced in January.
The 39,130 sq ft site was collectively sold to a joint venture between Roxy-Pacific subsidiary RP Ventures, which has a 40 per cent stake, and Mr Teo's private family office TE2 Development, which holds 45 per cent. The remaining 15 per cent is held by Kim Seng Holdings.
Shares of Roxy-Pacific closed at S$0.395, down half a Singapore cent, or 1.25 per cent, prior to the announcement.