This in 'The Australian' of Thursday 22 September 2021 is about the badly challenged and mired in increasing debt QAN (debt is rising by A$5 million a week, and there's no end in sight) but while its industrial/commercial land is in a different area of SYD to SOL's joint holdings with GMG, it's potentially a great news story for SOL given rising land values for these types of property developments:
"Qantas has emerged as one of the biggest winners from the industrial property boom getting a bid of more than $800m for the surplus land it is selling next to Sydney Airport from property funds manager Logos backed by superannuation fund AustralianSuper.
Once complete the massive purchase will smash records for industrial property and bolster Qantas as it is well ahead of initial expectations for the site which had been expected to draw bids of more than $500m.
The blow out bid knocked out a series of rival companies and shows both the jump in value of industrial land where new developments can be undertaken and also the powerful role being played by industry super funds..."
SOL Price at posting:
$35.62 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)