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Stockland Pays $48.7 Million For South East Queensland Residential Development Sites

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Written by Marc Pallisco   
Saturday, 25 September 2010 00:32

STOCKLAND has paid $48.7 million for residential development sites in south-east Queensland.

In an announcement to the Australian Stock Exchange, the Sydney-based developer and fund manager said the properties are about six kilometres south of the Ipswich CBD and 36 kilometres south-east of Queensland capital Brisbane.

Stockland said it looks forward to working with council to deliver value for money homes that cater for a variety of budgets.

Stockland has acquired eight residential land parcels worth $429 million in the 2010/2011 financial year so far.

It's chief is Matthew Quinn (pictured).