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PEET LIMITED — Capital/Financing Update 2007
Nov 20, 2007
65600_rns_2007-11-20_34605cc4-2d99-433f-8832-e0515b7a5a66.pdf
Capital/Financing Update
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Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email [email protected]
21 November 2007
NEW PEET LIMITED TRI STATE SYNDICATE OPPORTUNITY
Australia’s largest residential land syndicator, Peet Limited, is preparing to release its first land syndicate investment opportunity for the 2007/08 financial year – and its first with land in three states.
Peet Limited Managing Director, Brendan Gore, said Peet Tri State Syndicate Limited offers investors the benefits of diversity through a portfolio of residential land development projects in regional coastal centres in Western Australia, Queensland and New South Wales.
The Big Grove Project in Western Australia proposes the creation of a residential estate on approximately 52 hectares in Big Grove, a harbour side suburb of Albany on the Western Australian south coast. The property is located adjacent to the Princess Royal Harbour approximately 6.5 kilometres from the Albany town centre, offering the convenience of city facilities and a waterside lifestyle.
The Big Grove property is anticipated to yield approximately 500 residential lots, with a number enjoying views of Princess Royal Harbour.
The Emu Park Project is located at Emu Park, a beachside township on Queensland’s Capricorn Coast. The nearby towns of Yeppoon and Rockhampton, add the kind of shopping, medical, entertainment, social and recreational facilities future residents will consider an important part of their lifestyle.
The Emu Park Property is made up of two adjoining lots with a combined area of approximately 84 hectares, anticipated to yield around 650 residential lots.
The Flinders Project is located in the established suburb of Flinders, adjoining the coastal town of Shellharbour, approximately 25 kilometres south of Wollongong, New South Wales. Shellharbour provides regional community amenities including commercial, retail, education, medical, entertainment, social and recreational facilities for the immediate population.
Comprising 30-hectares, the Flinders property has existing planning approvals for 241 residential lots and six integrated housing sites.
Peet Limited Managing Director, Brendan Gore, said Peet’s unparalleled experience in the management and marketing of land developments meant its syndicated projects are recognised by investors Australia-wide for providing value for money, with minimal overheads and consistently strong returns.
Peet Limited has cemented its position as Australia’s leading residential land syndicator, raising more than $295 million in recent years.
Perth | Melbourne | Brisbane Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772 | Licensed Real Estate Agent in WA
Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email [email protected]
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In the past financial year (2006/07) Peet raised $57 million via syndicate investments for the purchase and development of broadacre land in Western Australia, Victoria and Queensland.
At the end of last financial year, Peet was developing 23 estates on behalf of syndicates. The company has the third largest landbank of any ASX listed property company, with almost 34,000 lots with an estimated on-completion value of more than $6 billion, if sold at today’s prices.
The Syndicate, underwritten by Peet Limited, is looking to raise between $30 million and $40 million via the issue of up to 40 million one dollar shares. Applications for shares in Peet Tri State Syndicate Limited must be for a minimum of 5,000 shares, with 50 cents payable on application and the balance due in October 2008. Applications must be made on the Application Form attached to, and forming part of, the Prospectus.
The Prospectus has been lodged by Peet with the Australian Securities and Investments Commission and the Application Form is expected to be available electronically before the end of November.
To register for a copy of the Prospectus visit www.peetsyndicates.com.au or phone 1800 689 778.
ENDS
For further information please contact:
Marie Mills Mills Wilson Communication Consultants [P] (08) 9228 1999 [M] 0418 918 202 [E] [email protected]
Perth | Melbourne | Brisbane Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772 | Licensed Real Estate Agent in WA