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Roxy-Pacific continues buying properties in Australia

Vincent Chia

Roxy-Pacific Holdings Limited announced that it has entered into an agreement to purchase properties. The two properties are located in South Brisbane, Australia. They are freehold with a total land area of about 2,571 sqm. The vendor has obtained development approval to develop 2 residential buildings comprising of a total of 432 units. There will be shops, restaurant and office space on the ground floor of the properties. The properties are located within 2km of Brisbane’s CBD and within walking distance to the South Brisbane train station. Purchase consideration was A$ 33.6million.

GET TO THE POINT : Looks like it is a good time to enter the Aussie property market? What makes these properties a good buy is the availability of the development approval.

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