Sunland Group (ASX:SDG) to sell development land in Queensland

Company News

by Rachael Jones

Sunland Group (ASX:SDG) has entered into a conditional contract to sell the balance development land at Heights, Pimpama on the Gold Coast Queensland to GemLife for $29.7 million.

The contract is subject to FIRB approval. A deposit of 10 per cent of the purchase price has been paid and settlement is scheduled mid May 2020 following should the contract become unconditional.

Sunland will retain the existing land under development which will deliver some 190 land and medium density housing product over the next 12 – 18 months.

Shares in Sunland Group (ASX:SDG) last traded at $1.59 on Friday.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.