Roxy-Pacific targets acquiring $33.3m Harbour View Gardens home site
The 30,745 sq ft property will be for residential apartments.
Property and hospitality group Roxy-Pacific Holdings Ltd., has entered into a conditional agreement to acquire freehold residential site known as Harbour View Garden.
The site is located at Lot 1789 M Mukim 3 at 211 – 223A Pasir Panjang Road, with a total land area of 30,745 sq ft. and an existing plot ratio of 1.4 for residential apartment development.
"The Acquisition is subject to and conditional upon,inter alia, the obtaining of an Order for Sale from the Strata Titles Board or the High Court (as may be necessary) approving this sale.," the group said in a statement.
Its wholly-owned subsidiary, RH Developments, has entered the conditional agreement for the site with the purchase price of $33.3 million.
The acquisition will be financed by internal funds and bank borrowings.