Cedar Woods wins development selection

Company News

Cedar Woods Properties (ASX:CWP) say they have been chosen as a preferred partner to negotiate the redevelopment of the Glenside site in Adelaide. 
The 16.5 hectare site is located two kilometres south of the CBD and Cedar Woods won selection following an expression of interest process. 
The property developer will work closely with Renewal SA to develop a master plan in consultation with the community for the best use of the space. 
Preliminary work is based on a mix of townhouses and apartments with plenty of public space and preservation of heritage buildings. 
Cedar Woods reported a net profit of $42.59 million for the 2015 financial year. 

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