ROXY-Pacific Holdings plans to acquire freehold residential sites in Singapore’s Guillemard Lane for S$33.5 million. The sites situated at 2 and 6 Guillemard Lane have an estimated total land area of 14,030 sq ft and an existing gross plot ratio of 2.8 under the 2014 Master Plan for residential development, said the company in an announcement. The group intends to amalgamate these sites with the freehold land parcels situated at 12 and 14 Guillemard Lane, the acquisition of which it announced in mid September, for residential development.
The combined site has a total estimated land area of 25,601 sq ft.
The latest acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on its consolidated earnings and net tangible assets per share for the current financial year ending December 2017, it said.
Roxy-Pacific shares were untraded on Monday and stood at 53.5 Singapore cents.