This article is from the Australian Property Journal archive
A LARGE property sale has come at an excellent time for CEC Group.
The group has made 79 land sales at its Gordonvale based estate in Cairns, to a syndicate and has contracts to build approximately 96 residential dwellings, valued in excess of $25 million.
CEO Roy Lavis said the deal is significant which has come at an excellent time for the company.
“Clearly this group recognise the value in the local market and the reality that there is an imminent housing shortage.
“It shows considerable confidence in the property market and this will stimulate the market for on-going property sales. It will also provide considerable work for subcontractors for at least six months which is a major shot in the arm for the building industry overall,” he added.
Work is expected to commence on the properties immediately after land settlement.
Australian Property Journal
