According to insiders from Saudi Embassy which is close to the premises Saudi Embassy in Colombo has already bid to buy the land for nearly Rs.2.5 billion and the deal is under negotiations.
The long established Asha Central private hospital was sitting on a treasure trove of over 200 perches of land on No.37, Horton Place, Colombo 7 is originally valued at Rs.285.99 million (historica cost) as per financials and at present market value the land and the building is valued at over Rs.2.1 billion and the company has said that it will dispose the land or take any strategic investment. Since relocation of the historic hospital from Horton Place to Norris Canal Road until the disposal the Horton Place land it was leased for Sri Lanka Army with a total lease rental of Rs.60 million commencing from 24th February 2011 to 23rd February 2012 and it has been further extended till February 2014 as per the annual report of Financial Year 2012/2013.Company is yet to release Financial Year 2013/2014 Annual Report to CSE.
Thus it is evident that even the deal is done at Rs.2.1 billion Softlogic group will earn a capital gain of nearly Rs. 1.8 billion.
Last edited by DealKing on Fri Aug 08, 2014 10:51 am; edited 2 times in total