This article is from the Australian Property Journal archive
CEDAR Woods has acquired a 3.81ha infill site in Wooloowin, in Brisbane’s inner north in deal worth $24.6 million.
The 12 Chalk St Wooloowin property is only five kilometres from the Brisbane CBD.
The property has planning approval for 279 residential dwellings and buildings of up to eight levels
Settlement of the sale, brokered by CBRE, is deferred and will occur upon the vendor completing the process for creation of the site’s title, expected to occur in July 2016. The project is anticipated to contribute to earnings from 2018.
Cedar Woods also extended its three-year $135 million corporate finance facility by an additional year to 30 November 2018.
The facility is provided by Australia and New Zealand Banking Group Limited (ANZ) and Bank of Western Australia (Bankwest), a division of Commonwealth Bank of Australia, on a joint basis.
Australian Property Journal
