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Cedar Woods Properties Advises on Preferred Acquirer of Subiaco Site for $15m

14 May 2019  |  14:27:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: CWP the preferred acquirer of Subiaco site for $15m

Cedar Woods Properties advised that it has signed a conditional contract to acquire 133 Salvado Road, Subiaco - a former TAFE site - from the City of Subiaco for $15.05m, plus GST. The signing of the contract confirms Cedar Woods as the preferred proponent to purchase the 1.4-hectare site, which is located only 4km from the CBD in the sought-after western suburbs of Perth. The proposed acquisition is consistent with the Company's track record of securing sites in high performing locations. The announcement follows the Company's recent increase in pre-sales beyond FY19 to $249m, up 8% from the same time last year, supporting a positive medium-term earnings outlook for the Company.

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