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Sunland Group Limited (ASX:SDG) is buying 6 hectares of land in Ingleside, Sydney, for $12.2 million.

 

The site forms part of the Ingleside urban release area in which State and Local Governments are planning a process to enable residential development.

 

Sunland’s purchase expands the group’s portfolio with a particular focus on NSW.

 

The group says it has a robust development pipeline across Queensland, NSW and Victoria worth a combined value of $1.4 billion.

 

Sunland generated a full year net profit of $13.6 million.