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Stockland purchased a 40ha site in Sinagra for $53 million, which has the capacity for about 700 homes. Photo: Stockland

Stockland strikes $91m deal

ASX-listed property group Stockland has invested $91 million in the purchase of more than 4,600 residential lots across three metropolitan corridors in Perth, comprising a total 385 hectares of land. 

The purchases were from three different vendors and all were completed over recent weeks, but details were not disclosed.

The acquisition, announced today, includes: a 40ha site in Sinagra for $53 million; 334ha in Baldivis for $27 million; and an 11ha parcel of land in Brabham for $11 million. Stockland says the sites are strategically located in the fast-growing north-west, north-east and south-west metropolitan corridors of Perth.

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Total Shareholder Return as at 30/06/16

1 year TSR5 year TSR
303rdStockland21%14%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

37th↑Stockland$2,123.0m
61st↑Ausenco$252.8m
70th-Southern Gold$19k
76 listed non wa companies ranked by revenue.
Source: Morningstar

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