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PEET LIMITED — Capital/Financing Update 2013
Mar 17, 2013
65600_rns_2013-03-17_3485461d-13bf-4a8a-8be6-f98dc2ba737a.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]
18 March 2013
New Peet Syndicate Closes Over Subscribed
Peet Limited’s $17 million Peet Greenvale Syndicate has closed over-subscribed.
Peet Limited Managing Director and Chief Executive Officer, Brendan Gore, said the response to the latest land syndicate offer was very encouraging given the challenging conditions of the past few years and with approximately 20% of the applications received being from new investors.
“Peet welcomes our new investors through this land syndicate and, as always, appreciates the renewed support of hundreds of existing syndicate investors who have again shown their confidence in Peet.
“The strong response to the offer means that Peet will only take up its minimum commitment of 10% in the Syndicate,” said Mr Gore.
“Additionally, the response to the offer provides confidence for our syndication pipeline as we head into FY14 and beyond when market conditions are expected to improve underpinned by an upward trend in the Western Australian market in the first instance, continuing low interest rates and improving consumer sentiment.”
On behalf of the Peet Greenvale Syndicate, Peet will now develop and market a new residential community on 40 hectares of land on Mickleham Road, Greenvale in one of Melbourne’s fastest growing areas, about 24 kilometres from the CBD.
The property is already zoned residential and is ready for works for subdivision and pre-sales to commence later this calendar year.
For investor inquiries, call: Brendan Gore Managing Director and Chief Executive Officer Peet Limited (08) 9420 1111
For media inquiries, call: Marie Mills Mills Wilson Communication Consultants 08 9228 1999, 0418 918202 [email protected]
Perth | Melbourne | Brisbane Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834