This article is from the Australian Property Journal archive
DEVELOPER AVJennings has completed the sale of its contract building business to Sekisui House Australia.
CEO Peter Summers said the completion of the sale marked a significant milestone for the company’s operations.
He said whilst significant improvements had been made in the division, it suffered heavy losses in 2009 and recorded a loss again in 2010.
Summers stressed this was not an end of the relationship with the contract building operation.
“The arrangements including a license to Sekisui House to use the brand AVJennings in its contract building operations for three years and the land alliance deed under which the company will provide Sekisui House with access to AVJennings land will see a strong ongoing relationship. I look forward to working with the contract building team in relation to these areas,” he concluded.
Australian Property Journal
