Vision Care fully acquires Colombo Pharmacy land

Property management company Colombo City Holdings PLC yesterday said it disposed a 47.2 perch land plot and a building on it in Union Place, Colombo 2 to Vision Care Optical Services (Private) Limited, for a consideration of Rs.575 million.

This believes to be the remaining piece of land of what is commonly known as Colombo Pharmacy land, of which a 66.81 perch plot along with buildings on it was sold to Vision Care for Rs.1 billion in 2017. According to Colombo City Holdings’ latest annual report, the building on the 47.2 perches had over 4,300 square feet and the market value of the land was estimated at Rs.20 million a perch.