@Autosime, good to see you here.
I'm curious, where do you get your estimate of 30c-40c/share from (for the land value)?
ALG has an unencumbered freehold real estate consisting of ~55 hectares of land (~550,000 sqm) in Coomera.
If we value the land at A$90/sqm, that equates to a land valuation of ~A$50m, which equates to ~10c/share (480m SOI).
As a comparison, in December 2017, Village completed the sale and long-term leaseback of 154 hectares (381 acres) of freehold land on which its theme parks (Warner Bros. Movie World, Wet‘n’Wild Water World, Paradise Country, Australian Outback Spectacular, Village Roadshow Studios and Topgolf) are located, for A$100M. That equated to $65/sqm.
Ann: FY23 Results Presentation, page-14
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