Watpac awarded Australian Unity contract

Company News

by Jessica Ellerm

Watpac Limited (ASX:WTP) has announced it has been awarded the contract to build a new $61 million retirement community for Australian Unity.

The project is located in South Melbourne and will consist of a 18-level residential tower comprised of 83 retirement units.

Work will commence in January 2017, with completion scheduled for October 2018.

The new contract adds to almost $3 billion of work currently underway for Watpac across Australia.

Watpac Limited reported a net loss of $21.4 million at 30 June 2016.


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