Acquisition of new site by Sunland Group (ASX: SDG)

Sunland Group Ltd (ASX: SDG)  is a Leading property developer, which has acquired a prime 3.26-hectare site in Kenmore, 11 kilometers south-west of the Brisbane CBD, for $13.1 million. The amalgamated site encompasses 2178 to 2190 Moggill Road and 19 Wyndarra Street in Kenmore and has Development Approval for 96 four-bedroom terrace homes, with an estimated end value of $65 million.

The site also includes more than 3,100 sqm of preserved bushland along Moggill Road. Sunland Group’s portfolio in Brisbane includes the recently-completed Abian residential tower in the Brisbane CBD and Shea Residences in St Lucia, which is sold out and nearing completion. The parkland community comprises 91 terrace homes close to local schools, public transport, and neighborhood retail precincts. This boutique development comprises 33 detached homes with almost one-hectare dedicated to open green space.

The new set up is in a high growth area and the amenity will be further complemented by the site’s outstanding location directly opposite Kenmore’s Park n Ride bus stop and only minutes from three local schools, Kenmore Village and Kenmore Plaza shopping centers, and local parks.

The stock was seen to be trading at a market price of $1.83 on June 27, 2018 (before market close), and has seen a performance change of 3.99% over the past 12 months. The stock has seen a price change from $1.741 as at June 26, 2017 to $1.810 as at June 26, 2018.


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