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Stockland has bigger plans in land lease beyond Halcyon Save Share Stockland has given the clearest signal yet of its plans to dominate the growing land lease market, saying it is looking at further acquisitions after bedding down its $620 million Halcyon purchase. The company says it will tap outside capital to expand in the affordable housing market for 55-to-75-year-olds. Tarun Gupta: âWhere it would be appropriate, weâd be open to acquisitions.â Â Sam Mooy Stocklandâs purchase of Queensland operator Halcyon, first reported by The Australian Financial Reviewâs Street Talk column, gives it 3800 lots â two-thirds of which are still in planning or development â and would be earnings accretive immediately, chief executive Tarun Gupta said. ....
Migration crucial to drive new housing recovery: UDIA Share The Urban Development Institute of Australia has called on the federal government to restart its skilled migration program later this year to support new dwelling demand and residential construction activity after the greenfield housing market and inner-city apartment sector forged “radically different paths” in 2020. Boosted by the HomeBuilder program and a growing preference for detached housing away from the city, sales of greenfield housing lots in the outer suburbs nearly doubled in 2020 to 53,760 as the sector swung into “full capacity” in the second half of the year, according to the UDIA’s annual ....
Pretax profit ($m) 578 v 1015 Net profit ($m) 616 v 1003 Interim dividend 11.3c v 13.5c, payable on February 26Â Stockland said its ability to boost house-and-land production in response to a pandemic-driven desire for space and the return of investor and upgrader buyers will help it respond to demand and maintain a 13 per cent share of a sharply rising market. The countryâs largest diversified developer struck a confident note on Thursday as it reported 3835 net sales over the six months to December â the strongest result in four years â and boost settlements 44 per cent to 3101. âThe six months has been a significant improvement on the last six months of FY20,â managing director Mark Steinert told ....
Premium Content Subscriber only A POPULAR residential estate within Ipswich’s booming southeast corridor has been sold for an eye-watering $193 million. Property giant Stockland last week revealed its shock acquisition of Providence at South Ripley from Okeland, which included a balance of undeveloped land. CEO of communities Andrew Whitson said the bold move reflected the company’s masterplan to create a community of more than 20,000 people over the next 20 years. “We expect the record-low interest rates to continue to underpin the residential market over the medium term,” he said. “This acquisition aligns with our strategy to restock our development pipeline with well located, market-ready projects in areas with strong demand fundamentals and expected total returns above our hurdle rates.” ....