Roxy-Pacific arm acquires Sophia Mansions

Guess how much the purchase price is for this 17,545 sq ft freehold property.

In a release by Roxy-Pacific Holdings Limited, its wholly owned subsidiary RP Assets Pte. Ltd. has entered into a conditional agreement to acquire a freehold residential site comprised within TS 19 Lot 464N at 14 Adis Road, Singapore 229977 and also known as Sophia Mansions at the purchase price of S$43,300,000.

Here's more from Roxy-Pacific:

The said freehold residential site has a total land area of 17,545 sq ft and an existing plot ratio of 2.1 for residential apartment development. The Acquisition is subject to and conditional upon obtaining of an Order for Sale from the Strata Titles Board or High Court approving this sale and purchase, if necessary.

The cost of the Acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on the Group’s consolidated earnings and net tangible assets per share of the Company for the current financial year ending December 31, 2012. None of the Directors or controlling shareholders of the Company has any interest, direct or indirect in the above transaction, other than their shareholdings in the Company.

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