News: PPC Peet acquires 1,100-lot residential project in Queensland

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    July 15 (Reuters) - Peet Ltd (PPC) :

    • Peet acquires 1,100-lot residential project in QLD (PPC)
    • Established a new wholesale fund with Peet and Supalai public company, each

      being 50% co-investors

    • Peet will act as the development manager for the fund
    • Wholesale fund has acquired residential estate in Redbank Plains, Queensland

      to create a 1,100-lot residential master-planned community

    • Says total acquisition price for the properties is $37.45 million
    • Says medium-term outlook for the Queensland residential market remains

      positive

    • Estate is already developing and selling, it is expected to contribute to FY

      2017 earnings"

                            
 
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