Sumitomo ups Henley Homes stake to 69.4pc

Sumitomo Forestry Australia has upped its stake in Henley Homes – which turned 30 last year.

The subsidiary of Japan’s Sumitomo Forestry acquired half of the Melbourne based building group in 2009.

Today it confirmed it recently increased this to 69.4 per cent.

Seven months ago Sumitomo Forestry Australia snapped up a 51pc interest in Perth-based Scott Park Group (story continues below).

In 2016, the offshore company acquired the same share in another local home builder, Wisdom Property Group – which was established 21 years ago.

Henley is the country’s number 10 home developer according to the 2019 HIA Top Homebuilders Survey.

Last month it paid Potter Group nearly $8 million for a 51-lot permit ready housing estate in Melbourne’s south east Officer.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco