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14-04-2015, 10:35 PM
Roxy Pacific seeks more sites
THE AUSTRALIAN APRIL 15, 2015 12:00AM
Lisa Allen
Property & Tourism Reporter
Sydney
Acquisitive Singapore developer Roxy Pacific has assumed control of three Australian companies and unit trusts as vehicles to purchase more hotel development sites. It has told the city-state’s stock exchange that it also plans to engage international hotel operators to run its Australian accommodation portfolio.
Roxy Pacific has been buying real estate assets in Brisbane, Sydney and Perth, where it recently snapped up a development site, purchasing a beachside property in North Fremantle for $59 million. Roxy Pacific bought the site in a joint venture with Australian super fund Hostplus, which is being represented by property fund manager ISPT.
In January, Roxy Pacific purchased a site at 609 Wellington Street, Perth, which has approval for a 332-room hotel to be managed by Marriott International under the Courtyard brand — the first Courtyard-branded property in the West Australian capital.
Roxy Pacific first entered the Australian market a year ago with the purchase of a $90m office block fronting
59 Goulburn Street, Sydney.
In a statement to the Singapore stock exchange, Roxy Pacific said the new entity, Roxy Pacific Hotels group, would buy a series of developments in Australia and use modular construction technology to build the hotel portfolio.
THE AUSTRALIAN APRIL 15, 2015 12:00AM
Lisa Allen
Property & Tourism Reporter
Sydney
Acquisitive Singapore developer Roxy Pacific has assumed control of three Australian companies and unit trusts as vehicles to purchase more hotel development sites. It has told the city-state’s stock exchange that it also plans to engage international hotel operators to run its Australian accommodation portfolio.
Roxy Pacific has been buying real estate assets in Brisbane, Sydney and Perth, where it recently snapped up a development site, purchasing a beachside property in North Fremantle for $59 million. Roxy Pacific bought the site in a joint venture with Australian super fund Hostplus, which is being represented by property fund manager ISPT.
In January, Roxy Pacific purchased a site at 609 Wellington Street, Perth, which has approval for a 332-room hotel to be managed by Marriott International under the Courtyard brand — the first Courtyard-branded property in the West Australian capital.
Roxy Pacific first entered the Australian market a year ago with the purchase of a $90m office block fronting
59 Goulburn Street, Sydney.
In a statement to the Singapore stock exchange, Roxy Pacific said the new entity, Roxy Pacific Hotels group, would buy a series of developments in Australia and use modular construction technology to build the hotel portfolio.