Victoria 

Stockland, ID, Prepare to Develop in Melbourne’s Outer North

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IT has been another busy week in Melbourne’s outer north, with one company announcing a major $45.8 million acquisition of a residential development site in Craigieburn, and another launching a $60 million housing estate in nearby Mernda.

In the biggest deal, Sydney-based developer Stockland has acquired a 100 hectare development site abutting its hugely successful Highlands development, about 35 kilometres north of town.

The acquisition is the latest in a string for Stockland, which in February paid $58 million for two sites totalling 117.4 hectares in Wollert, not far from Craigieburn.

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Stockland chief Matthew Quinn
Victoria 

Stockland Pays $58 Million For Two Major Development Sites, Melbourne

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Stockland chief Matthew QuinnSYDNEY-based developer Stockland has paid about $58 million for two major residential development sites in Melbourne’s outer north.

In the same week the company announced it would focus less on developing apartments, and more on providing low density housing, the group announced two separate land purchases, of 52.4 hectares, and 65 hectares, in Wollert, about 25 kilometres from town.

Stockland is expected to yield 1100 housing lots from the sites, giving it exposure to Melbourne’s burgeoning Epping growth corridor for some years.

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Victoria 

Ex Stockland and Mirvac Exec Announces West Footscray Townhouse Project

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THE man who bought high rise living to South Yarra ten years ago, and helped develop Beacon Cove in Port Melbourne, has turned his hand to another development, on West Footscray’s Stony Creek.
 
Former Mirvac and Stockland executive Cameron Alderson’s latest development proposal, Canopi, aims to solve housing affordability issues by offering efficiently designed townhouses on small “inner-city” size blocks of around 175 square metres.
 
Canopi, at the end of Lae Street, will include 43 townhouses each including three bedrooms, two bathrooms, two car spots and a rear courtyard. Kingsford Property is marketing the townhouses, which range in price from $479,000 to $550,000.

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National 

Stockland to Double Retirement Portfolio, Appoints New Head

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SYDNEY-based developer Stockland is continuing to ramp up its potentially lucrative retirement living division, appointing former management consultant David Pitman to the new role of group strategy head.

Mr Pitman said he wants to double the group’s retirement portfolio to about 8,000 units over the next five to six years, which would boost department earnings from the current 7 per cent it contributes to Stockland’s total coffers.

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National 

Stockland Delivers Another Record Result

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�� Confirms FY08 guidance of 5% EPS growth
Stockland delivered a strong performance for the half year ended 31 December 2007
(1H08), recording a net profit attributable to security holders of $672.5 million, including
property revaluations and other non-operating items.
HEADLINE RESULTS
�� Operating profit* increased by 10.7% to $324.6 million.
�� Earnings per security* increased by 4.2% to 22.4 cents
�� Dividend/distribution per security increased by 5.1% to 22.6 cents#
* (before certain significant items)

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