Stockland picks 530 lots for $23.5m
June 3, 2010
Stockland Group (SGP) has purchased a 54-hectare parcel of land in south-east Queensland for $23.5 million. The land, around 35 kilometres south of Brisbane CBD, will add another 530 lots to Stockland’s interest in the area, bringing it to a total of 1,600.
"The project would have an end value of around $210 million and would assist in providing a range of affordable housing solutions in this sought-after corridor," Stockland said.
Stockland CEO Residential, Mark Hunter, said it provided the company more access to the popular Greater Brisbane South growth corridor.
“This transaction is a key example of our commitment to increase our market share in key corridors across the country, in line with our growth strategy for the Residential business,” Mr Hunter said.
“We’ve also recently extended our market share into new growth corridors in Victoria and Western Australia, with the acquisition of five other land parcels to date in FY10.”
The group said this brings to six the number of residential land acquisitions Stockland has made this financial year, bringing its newly acquired lots to around 5,280 at a total cost of around $274 million for the period.
At 1428 AEST, Stockland shares were trading up 5c to $3.92.
"The project would have an end value of around $210 million and would assist in providing a range of affordable housing solutions in this sought-after corridor," Stockland said.
Stockland CEO Residential, Mark Hunter, said it provided the company more access to the popular Greater Brisbane South growth corridor.
“This transaction is a key example of our commitment to increase our market share in key corridors across the country, in line with our growth strategy for the Residential business,” Mr Hunter said.
“We’ve also recently extended our market share into new growth corridors in Victoria and Western Australia, with the acquisition of five other land parcels to date in FY10.”
The group said this brings to six the number of residential land acquisitions Stockland has made this financial year, bringing its newly acquired lots to around 5,280 at a total cost of around $274 million for the period.
At 1428 AEST, Stockland shares were trading up 5c to $3.92.
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