ClarenceSt12.15The Clarence Street property has three street frontages, with views through the Sydney’s Central Business District and out to Darling Harbour. Photo: Google Map
ROXY-PACIFIC HOLDINGS, once an entirely Singapore-centric business, is fast developing its property exposure to Australia, with its latest acquisition there being the sixth in less than two years.

An associate of Roxy-Pacific entered into an agreement on 3 Dec to acquire a commercial property at 117 Clarence Street, Sydney, Australia.


The total purchase price, via Feature-Roxy, is AUSD81 million. 

An indirect wholly-owned subsidiary of Roxy-Pacific, Roxy-Pacific Investments, owns 50% of Feature-Roxy while the other 50% is held by Feature Trend (Sydney), a unit of Tong Eng Group, a private real estate developer in Singapore.


Location Type Roxy-Pacific’s 
stake
Attributable land cost
» Landbank      
64 Peel St & 9 Cordelia St, Brisbane Commercial & Residential Development 40% AUD13.4 million
54 & 85 Bracks Street, North Fremantle Industrial land; to be rezoned for commercial and residential use 20.2% AUD11.9 million
6A and 8 Buckingham Road, Killara NSW Residential Development 100% AUD15.65 million
» Hotel      
609, Wellington Street A hotel development land parcel to be developed into a 23 level, 332 room Marriott Courtyard hotel 49% AUD8.3 million
» Investment properties      
59 Goulburn Street, Sydney 28-storey commercial building 100% AUD90.2 million
117 Clarence Street, Sydney 14-storey commercial building 50% AUD40.15 million


The Clarence Street property is a 14-storey commercial building, with three street frontages, with views through the Sydney’s Central Business District and out to Darling Harbour.

It is a freehold property with a total site area of approximately 1,190 square metres, and net lettable area of approximately 12,571 square metres.

The Roxy-Pacific board believes the property presents a prime investment opportunity and has potential to be a stable source of rental income for the Group.


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  • Lionel Lim