Oxley Holdings says the Urban Redevelopment Authority (URA) has accepted its tender for a land parcel at Irving Place at $43.4 million. To date, the Oxley has paid $10,847,222 towards the purchase price.
The site, with a land area of 3,353 square metres and a lease term of 60 years, is zoned for “Business 1 - White” development with a maximum gross plot ratio of 3.5.
The balance of the purchase price of $32,541,666 is payable by 26 September 2011.
The acquisition will be funded by bank borrowings and internal resources.
Tuesday, July 26, 2011
Oxley Holdings makes winning bid of $43.4m for Irving Place site
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