Oxley: 55% subsi Oxley Ascend Realty has won a tender from JTC for a land parcel at Ubi Rd 1/Ave 4 at purchase price of $72.2m. The site is 12.4sqm with lease term of 60 yrs and is zoned for "Business 1" development for industrial purposes…
The acq will be funded by bank borrowings and internal resources. Co has generally focused on “shoebox” residential apts but has only recently listed. Co's acq at $72.2m is approx 13.5% of co's current mkt cap.
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