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Just a day after it reported d a recent acquisition of two sites in South East Queensland, Villa World Limited (ASX:VLW) has announced another purchase at Waterford, just south of Brisbane.
The $7.2 purchase is a site located within the existing “Woodlands” estate that is being developed by Lend Lease.
The residential developer expects to realize 81 lots from the site and CEO Craig Treasure says the purchase is an example of Villa Worlds willingness to enter into strategic transactions with larger property groups.
The purchase will settle in December 2014 and is expected to commence contributing to revenue in the 2016 financial year.
Villa World made a net profit of $19 million for the 2014 financial year.
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