The Company is pleased to announce it has agreed to the unconditional purchase of two sites at Plumpton, in the north west growth corridor of Melbourne.
The total purchase price is $44million (inclusive of GST) with settlement of one site anticipated to occur in July 2017 and the other in July 2019. The settlement in July 2017 will be funded from working capital and/or debt.
Both sites are within the areas of Precinct Structure Plans which are expected to be gazetted later in 2017, with an expected total yield in excess of 500 lots. The projects will contain a mixture of house and land product, as well as vacant home sites.
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