PACIFIC LEGEND (ASX: 08547) has announced a proposed property acquisition through its wholly-owned subsidiary.

The company's indirect wholly-owned subsidiary, Indigo Living Design Limited, has entered into a sale and purchase agreement with the vendor, Kang Tu Development Limited, for the acquisition of a specific property.

The agreed purchase price for the property is HK$11.58 million.

The property in question is a showroom unit located at Unit 01, 17th Floor, One Two One, 121 Kwan Lin Street, Cheung Sha Wan, Kowloon, Hong Kong.

This is a commercial property with a saleable area of approximately 1,020 square feet.

The board of directors believes the acquisition represents a favorable investment opportunity for the group.

This assessment is based on two key factors: the relatively lower prices in the surrounding real estate market, and the fact that the company currently uses the property as its showroom.

Purchasing the property will provide the company with a guaranteed and stable operational space without incurring future rental expenses.