Artist’s impression of the Royal Wharf development in London.
Oxley Wharf Property, a subsidiary of Oxley Holdings, has sold all the apartments in two blocks of its Royal Wharf development in London to Notting Hill Home Ownership Limited and Notting Hill Housing Trust for £156.2 million (S$277.1 million), reported The Straits Times.
The property developer revealed that the buyers paid a deposit of around £7 million (S$12.4 million) for Blocks 20 and 24 on 23 December 2016.
Upon completion of the said blocks, which is expected to be in 2018, the buyers will pay an additional amount of around £22.1 million (S$39.3 million) for Block 20 and £15.3 million (S$27.2 million) for Block 24.
The rest will be paid in 18 monthly instalments following the respective completion dates.
Oxley does not expect the transaction to materially affect its earnings or assets for the year ending 30 June 2017.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
