AI assistant
STOCKLAND — Capital/Financing Update 2011
Mar 14, 2011
65781_rns_2011-03-14_cb5ec748-6d00-46d0-b742-1e59b13a1cd6.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
133 Castlereagh Street T 02 9035 2552 Sydney NSW 2000 F 02 8988 2552
www.stockland.com.au
==> picture [72 x 72] intentionally omitted <==
15 March 2011 ASX/Media Release
STOCKLAND ACQUIRES NEW RESIDENTIAL SITE IN NSW
Stockland has acquired a 40 Hectare residential development site in Maitland, NSW from the Terrace Tower Group for a total of $22 million on deferred payment terms.
The acquisition is in line with Stockland’s intention to increase its presence in the NSW residential market and is the first land acquisition the Group has made in NSW since 2007.
Located 29 kilometres north-west of Newcastle in Woodbury Park, Aberglasslyn, the site is situated in the Hunter corridor, directly adjacent to Stockland’s highly successful McKeachie’s Run residential community.
Stockland CEO Residential, Mark Hunter, said: “This acquisition represents a significant investment in the future of the NSW residential market and, in particular, the growing Hunter corridor.
“The location of the site complements our current residential communities in the area, McKeachie’s Run and Darcy’s Peak, and will cement our strong position in this growth corridor for many years to come.
“We will continue to work closely with the Maitland City Council and the local Maitland community to deliver a sustainable masterplanned community,” Mr Hunter said.
The property is already zoned for residential development and has an approved planning permit for around 344 housing lots, bringing the total balance yield at McKeachie’s Run to over 800 lots. The first settlements are expected to occur in FY13.
This transaction brings the total number of residential lots Stockland has secured in FY11 to date to almost 19,500, with an end value of around $6 billion.
| For media enquiries contact | For investor enquiries contact | ||
|---|---|---|---|
| Karyn Munsie | Katie Lennon | Karyn Munsie | Linda Assatoury |
| EGM – Corporate Affairs | Media Relations Manager | EGM – Corporate Affairs | Senior Manager Investor Relations |
| Stockland | Stockland | Stockland | Stockland |
| T+61 (0)2 9035 2180 | T+61 (0)2 9035 2552 | T+61 (0)2 9035 2180 | T+61 (0)2 9035 2553 |
| M+61 (0)421 050 430 | M+61 (0)406 316 907 | M+61 (0)421 050 430 | M+61 (0)402 283 769 |
Stockland Corporation Ltd ACN 000 181 733 Stockland Trust Management Ltd ACN 001 900 741 AFSL 241190 As Responsible Entity for Stockland Trust ARSN 092 897 348.