CEDAR Woods has paid $18 million for a 273-hectare development site, offloaded by the Department of Defence. The former Bushmead Rifle Range at Hazelmere is expected to be redeveloped into a housing estate with up to 900 residential lots. Cedar Woods is a listed company. The Hazelmere acquisition was made by a subsidiary Dunland Property,Read more
CEDAR Woods Properties has rejected a $310 million takeover offer, saying that purchase price undervalued the company.
The company confirmed a third party has offered $5.05 per share before being told it was “insufficient”.
“The Cedar Woods’ board has consistently stated that it believes the current (market) value of the company’s projects to be substantially above the value reflected in its share price,” it is reported as saying in The Australian.Read more
CEDAR Woods has been granted approval to build a $1.5 billion, 2500-home development in Melbourne’s west. The Williams Landing development was given the green light by Victorian Planning Minister Matthew Guy last week. Retail floorspace in the project will increase to 25,000 square metres, from 15,000 square metres. A substantial sub-regional shopping centre is alsoRead more