Asiri Hospital completes Horton Place land sale

Softlogic Group company Asiri Hospital Holdings PLC has concluded the sale and transfer of land occupied by Asha Central in Horton Place for Rs. 2.7 billion, a market announcement said.

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

Softlogic Group Chairman/CEO Ashok Pathirage recently told Mirror Business that the delay was due to outstanding payments.

A gain of Rs.513.4 million was recorded at Softlogic group level as change in fair value of the 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.