Asha Central property yet to be disposed

18 June 2015 06:07 am Views - 2092

The country’s youngest conglomerate Softlogic Holdings PLC is yet to dispose the land which housed the original Asha Central Hospital in Horton Place.

“No, we have not yet completed the transaction. The buyer has paid more than 50 percent of the agreed amount. We’re waiting for the rest of the payment to dispose of it,” Softlogic Holdings Chairman/Managing Director Ashok Pathirage told Mirror Business.

The land was announced to be sold for a total consideration of Rs.2.6 billion last year August, to a party that was not disclosed. Sources said the buying party was a foreign mission.

A gain of Rs.513.4 million was recorded at Softlogic group level as change in fair value of Horton Place land during the March quarter of this year.  After Asha Central was shifted to Norris Canal Road, the land located in Horton Place was leased to the Sri Lanka Army for a year. The land is located in a residential area, which restricts the construction of high-rise buildings.