Roxy-Pacific to sell Sydney property for $164 mil

SINGAPORE (May 26): Roxy-Pacific Holdings announced Friday that wholly-owned subsidiary Roxy-Pacific Goulburn has entered into a heads of agreement to sell its freehold property at 59 Goulburn Street in Sydney to Fortius Funds Management for A$158 million ($164 million).

Roxy-Pacific says it had an earlier heads of agreement with a joint venture between I-Prosperity Group and Toga D&C.

However, the parties involved have decided not to enter into the definitive sale agreement and will not be proceeding with the proposed sale to the initial purchaser.

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