Pindan buys Huntingdale Park lots for $15 million
Date Published: 5/03/2017
Property funds manager Pindan Capital has purchased 134 housing lots in the remaining six stages of the new residential estate Huntingdale Park in regional NSW for$15 million.
The group will auction 18 large family sized home sites on March 25.The lots at the park start at a minimum of 500 square metres up to 2000 sq m a lot.
Singapore-listed developer Oxley Holdings, which owns 40 per cent of Pindan, has also taken a 25.5 per cent interest in the park.
Huntingdale Park is a new residential land estate in Berry at the northern gateway to the Shoalhaven region on the NSW south coast.
It is a 45-minute drive from Wollongong and two hours from Sydney CBD. One hundred and Nine homes have already been built and Pindan's acquisition Includes 61 presold lots.
This is the first major investment for builder Pindan, which has roots in Perth and since it formed a partnership with Oxley in December 2016, from which Pindan raised $72 million.
Pindan's general manager Scott Staniforth said the park was a semi-rural lifestyle estate that offered an excellent potential return for investors.
Pindan is also building a 49 apartment project in Turramurra in Sydney's north. It also owns the Warner Music building in Crows Nest in Sydney's lower north shore.
Source: Australian Financial Review
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