8I Holdings Limited (ASX:8IH)
says it has agreed to purchase 49.9 per cent of Velocity Holdings for $2.3 million.
Founder Brendon Ansell will retain 50.1 per cent of the Brisbane-based property development firm. Velocity currently has three boutique property deals under construction.
The Singapore based investor has only recently listed on the ASX and now holds property in both Singapore and Australia.