Listed property group Roxy-Pacific Holdings announced that it has entered into a joint venture with HOSTPLUS Peel Street Pty Ltd to acquire land relating to properties located on 64 Peel Street and 9 Cordella Street in South Brisbane, Australia. The aggregate purchase price of the properties is A$33.6 million. The properties have a freehold tenure and occupy a land area of 27,750 sq ft.

The vendor of the properties has obtained approval to redevelop the site into two new residential buildings comprising a total of 432 residential units, with shops, restaurants and offices on the ground floor. The properties are located within a 2km-range of the Brisbane CBD and are within walking distance of the South Brisbane train station.