In multiple property related deals in the region, Roxy-Pacific has purchased a Melbourne property, Aspen Group has acquired land to build logistics properties and SIIC has bought two waste water treatment plants in China.
Roxy-Pacific acquires Melbourne property
Roxy-Pacific Holdings’ indirect wholly-owned subsidiary Roxy-Pacific Melbourne House, formerly known as Roxy-Pacific Wentworth, will acquire a freehold property in Melbourne for a consideration of A$33 million ($25.06 million).
Located at 360 Little Bourke Street in Melbourne’s central business district, the property is a 6-storeyed commercial and retail building known as Melbourne House with a total site area of approximately 937 sq m, and a current net lettable area of approximately 4,504 sq m.
Roxy-Pacific will redevelop the property into a mixed-use development, comprising a hotel and retail units. The proposed acquisition will be financed via internal funds and bank borrowings.
Aspen unit to acquire three plots for $46.4m
Aspen Group’s associated company Global Vision Logistics (GVL) has purchased three plots of leasehold industrial land for a total of RM 190 million ($46.4 million). Aspen’s wholly-owned subsidiary, Aspen Vision Properties, owns 30 per cent stake in GVL.
The land plots are located in Shah Alam, Selangor, and span a total of 287,153 sqm. GVL will develop the land into a sustainable integrated logistics, warehousing and e-commerce hub.
Aspen expects the site to emerge as a strategic logistics hub in Malaysia following the completion of the proposed development, which will be financed through bank borrowings and internal resources.
SIIC acquires wastewater treatment plant in Dalian
SIIC Environment Holdings is acquiring two water treatment companies based in Dalian, China, for RMB 205.48 million ($31 million).
Through its subsidiary, SIIC Environment Holdings (Weifang) Co., in which it has a 75.5 per cent interest, has entered agreements with sellers Thunip Corp, and Zhang Li to acquire 52 per cent and 48 per cent of Dalian Ziguang Water Treatment Co. (DLZG) respectively. The aggregate consideration for the acquisitions is RMB 108.48 million.