The $620 million acquisition of Queensland’s Halcyon Group by Australia’s largest residential developer won’t be their last in the space, according to Stockland Group Executive and CEO Communities, Andrew Whitson (pictured right).
Speaking to us for this week’s land lease special issue of SATURDAY, Andrew said the deal has brought forward its land lease growth plans by three years.
Andrew, who oversees its land lease division, tells us the acquisition means the group can hit fast-forward on its growing national portfolio.
“This provides immediate scale and allows us to bring forward our growth plans in this sector by three years,” he stated.
Stockland has also indicated it is open to further acquisitions in the land lease sector as well as the introduction of “third party capital” into the portfolio.
“Combining our brand and the Halcyon brand, as well as a strong customer proposition and quality land bank across the country, means we are well positioned for strong growth,” Andrew stated.
Read the full story in this week’s issue of SATURDAY, in your inbox at 6am, Saturday 31 July.