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Roxy-Pacific acquires 4.4 hectare Perth site

Vincent Chia

Roxy-Pacific Holdings Limited announced that it has jointly acquired a 4.4 hectare site in Perth, Australia. Its joint acquisition partner is Hostplus which is an Australian based superannuation fund. The purchase consideration is A$59million for the site in North Fremantle. It is next to the prime Leighton beach and is connected by train to Perth’s CBD. It is currently zoned as industrial use. The intention is to convert it for residential and commercial use. Roxy-Pacific’s stake in this property is 40% with Hostplus taking 60%. In addition to this development site, Roxy-Pacific has also partnered Hostplus in another development site in South Brisbane.

GET TO THE POINT : Looks like a pretty nice beachfront to buy a house at.

(Picture from Roxy-Pacific Holdings Limited)

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The post Roxy-Pacific acquires 4.4 hectare Perth site appeared first on Asean Equities Review.