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00754 HOPSON DEV HOLD
RTNominal up3.400 +0.030 (+0.890%)
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04/12/2019 11:19

Hopson Dev (00754) to buy New York land at US$113.5m

[ET Net News Agency, 4 December 2019] Hopson Development Holdings Limited (00754) said
its subsidiary Lex 47th Property Owner LLC has agreed to buy a property at the cash
consideration of US$113.5 million subject to customary real estate adjustments and to
possible reduction.
The property is a piece of vacant land located in Manhattan, New York. The group intends
to develop the property into a new building to be sold which is expected to comprise two
floors underground (for amenity and storage) and 34 floors above ground (one floor as
residence lobby and retail and the remaining floors as residence comprising 200
residential units) with an aggregate gross floor area of approximately 183,310 square
feet. (RC)

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