Monday July 23, 2018

Sri Lanka's Union Place property sold for a billion rupees

Aug 01, 2017 07:10 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Colombo City Holdings, a publicly traded company said it had reached a deal to sell 66.81 perch land with a building in Union Place, in Sri Lanka's capital Colombo for a billion rupees.

The property will be bought by Vision Care Optical Services (Pvt) Ltd.

Colombo City Holdings, owns 117.75 perches of land with two buildings which were re-valued at 1,298 million rupees in the 2016 annual report. The main building with 28,498 square feet was valued at 6,250 rupee per square feet on a replacement cost basis.

The land was valued at 10 million rupees per perch, up from 8.0 million in 2015.

The stock closed down 15.8 rupees at 950 rupees on Monday.


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