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Stockland Acquires Two Residential Development Sites In QueenslandStockland today announced it had acquired two separate residential land parcels in south-east Queensland's western corridor from a private operator for $48.7 million on partially deferred payment terms. The properties, which are located six kilometres south of the Ipswich CBD and 36 kilometres south-west of the Brisbane CBD, comprise a total area of just under 400 hectares. The sites have potential to yield around 2,550 residential housing lots. Stockland CEO Residential, Mark Hunter, said the acquisition would give Stockland further exposure to south-east Queensland's popular western corridor. "We are already active in this corridor with our Augustine Heights residential community, which has only limited lots remaining for sale. These new land parcels will substantially boost our market share in the area, in line with our growth strategy for the Residential business. "We look forward to working with Ipswich City Council to offer a variety of value for money home and land packages that cater to a range of household budgets. "In keeping with our focus on speed to market, we're also expecting to see profit contribution from this acquisition in early FY12," Mr Hunter said. This is the eighth residential land acquisition Stockland has made in FY10/FY11 to date, bringing its newly acquired lots to over 12,240 at a total cost of $429 million for the period. Visit us at: Stockland Stockland's home and land packages offer something for everyone, from golf courses, to shopping and beaches, to beautiful lakeside living and open parks. Paid Advertisements Below
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