Roxy Pacific acquires Australian land parcel for $17.9m
The land will be used for a hotel development.
Roxy-Pacific has acquired a hotel development land parcel in Perth, Australia, for a total consideration of $17.9m (AUD 17m).
The land has a freehold tenure and is located on Wellington Street in Perth’s central business district, which is within close proximity to several tourist attractions, cultural sites, commercial centres, retail centres and sporting precincts in Perth.
The acquisition will be financed by internal funds and is not expected to have a material impact on the group's consolidated earnings and net tangible assets per share for the current financial year ending 31 December 2015.