SINGAPORE (Dec 1): Roxy-Pacific Holdings’ indirect wholly-owned subsidiary Roxy-Pacific Melbourne House, formerly known as Roxy-Pacific Wentworth, has agreed to acquire a property in Melbourne, Australia for A$33.0 million ($33.7 million).

The freehold property, located at 360 Little Bourke Street in Melbourne’s central business district, is a 6-storey commercial and retail building known as Melbourne House.

It has a total site area of approximately 937 sqm, and a current net lettable area of approximately 4,504 sqm.

Roxy-Pacific says it intends to redevelop the property into a mixed-use development, comprising a hotel and retail units.

This story, written by Stanislaus Jude Chan, first appeared on The Edge Singapore.