Sunland Group to sell Ingleside site

Company News

by Rachael Jones

Property developer Sunland Group (ASX:SDG) is set to sell a greendfield site in Ingleside for $16.5 million.

They bought the site which is 27 kilometres north-east of Sydney back in 2016.

The off-market transaction represents a profit of $4.9 million after tax, which will be realised in the 2020 financial year following settlement of the sale.

Managing Director, Sahba Abedian says the northern beaches region is growing and there is strong demand for boutique housing and affordable, master planned communities.

Shares in Sunland Group (ASX:SDG) closed 0.3 per cent lower at $1.69.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.