They have a habit of dropping projects off the reports for a while, you don't know they have it, then suddenly they announce they've sold it. Eg Ingleside Wilga Wilson Rd announced 23/7/21 (which I thought they'd sold in Aug 2019 but that was Ingleside Mona Vale Rd). There was no mention of "Ingleside" after 2019 until 23/7/21. Then they pulled Lanes Lots 909, 915 & 917 out of their hat after they had announced in Feb 2021 4D that they had sold Lanes residential land (which in hindsight was only a small piece of the undeveloped Lanes land).
You're right, they scrapped some planning cost for Kenmore in 2021 Annual report but didn't mention what they were going to do with it. The previous mention of Kenmore was in the Feb 2021 presentation where they said..."New projects to be commenced include Lanes Residences – West Village, Lanes Retail and Kenmore". That sounds to me like they are still planning to build, just not what they originally planned.
They bought Kenmore land for $13.1m in June 2018. If they don't develop it I'd imagine they could sell the site at a 20% profit after 3-4years, so perhaps we'll still get $3m profit where I was hoping for $12m, but quicker return of those funds if not doing a development.
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