Tong Eng, Roxy-Pacific Sell 117 Clarence Street For $153 Million

The owners of 117 Clarence Street, Sydney have almost doubled their money in three years after having sold the property for $153 million. The lucky vendors are subsidiary companies of Singaporean development companies, The Tong Eng Group and Roxy-Pacific Holdings Limited. The partners purchased the building for $81 million in February 2016.

The Tong Eng Group is a family business which was formed by the Teo Brothers in the 1940s. The company continues into its third generation under the…