News and Announcements
Conditional Sale Contracts for TSA Sales & San Remo Update from Unity Pacific
- Published December 18, 2015 4:39PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
18th December 2015, ASX Announcement
Unity Pacific Limited (ASX: UPG) (Unity Pacific) announces it has entered into conditional contracts for the sale of 760² of transferable development rights which attach to the 308 Queen Street heritage buildings and provides information about a positive town planning development for the land at San Remo.
Sale of TSAs
Unity Pacific currently owns 1,134m² of transferable development rights known as TSAs (or transferable site areas) which attach to the 308 Queen Street heritage building.
Unity Pacific has exchanged two conditional contracts for the sale of 760² of TSAs for a total sale price of $1.23 million to $1.29 million. The 30 June 2015 book value of the contracted 760² of TSAs was $0.3 million. The contracts are subject to relevant purchasers obtaining a development approval from the Brisbane City Council for their respective residential development projects by 30 June 2016 and 30 September 2016 respectively.
To read the full announcement, please click here.
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