Roxy-Pacific to sell Sydney CBD office building for $153.4 mil

SINGAPORE (May 4): Roxy-Pacific Holdings says its 50%-owned subsidiary, Feature-Roxy, has entered into a non-binding agreement sell its freehold property at 117 Clarence Street, Sydney, Australia, for A$153 million ($153.4 million).

The purchaser is an Australian-domiciled institutional investor whose name was not disclosed.

In an aftermarket filing on Friday, Roxy-Pacific says the sale is subject to the findings of a due diligence exercise and the approval of both parties’ boards of directors, as well as any definitive sale agreements that Feature-Roxy and the institutional investor may enter into.

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