Payce Consolidated Limited
(ASX:PAY) has announced land acquisitions and a joint operation with Sekisui House Australia Holdings.
Payce inked a $95 million deal to buy a 14 hectare industrial site in the western suburbs of Sydney in August.
The property developer says it has now completed a $23.5 million contract to acquire an adjacent 2 hectare industrial site on Wharf Road Melrose Park.
Payce has also today announced a 50:50 joint operation with Sekisui House in relation to both sites, further strengthening their commercial relationship.
The announcement comes one week after Payce exchanged contracts to buy two industrial lots in Sydney’s western suburb of Auburn for $50 million.
Payce Consolidated reported a net profit of $1.55 million in the 2014 financial year.
