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Cedar Woods Properties Acquires 21 Ha Site at Wollert in Melbourne

13 Jan 2021  |  11:21:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquires 21 ha site at Wollert in Melbourne

Cedar Woods Properties acquired a strategic 21.7 ha site in Melbourne's north, immediately adjacent to the Company's existing Mason Quarter project in Wollert. The combined project will accommodate a master planned community of around 800 lots plus two school sites. The additional land was purchased for $30m from a private land owner, with payment deferred until 2022. It expects this additional Wollert landholding to contribute to earnings by FY 2023.

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