Completed in 1986, Harbour View Gardens comprises 14 three-storey walk-up apartments. (Photo: Colliers International)
RH Developments, a subsidiary of property developer Roxy-Pacific Holdings, has secured an agreement to buy the 14-unit Harbour View Gardens condominium at Pasir Panjang Road for $33.25 million, revealed the company in an SGX filing on Wednesday (31 August).
The freehold site has a land area of about 30,745 sq ft and an existing plot ratio of 1.4 for residential apartment development.
The deal is conditional upon RH Developments obtaining an order for sale from the Strata Titles Board or the High Court approving this sale.
The acquisition will be financed with internal funds and bank borrowings, and is not expected to
have any material impact on the consolidated earnings and net tangible assets per share of the company for the current financial year.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
