Australian Real Estate

Stockland Announces Renegotiation For Marsden Park Acquisition

August 11, 2020 — Stockland announced that it was renegotiating an existing arrangement to acquire land in Marsden Park, Sydney, NSW.

As previously disclosed on 20 December 2017, Stockland had entered into an agreement to acquire approximately 184 hectares of land for future residential development in Marsden Park, Sydney, for $398 million on deferred terms over five years.

The acquisition was conditional on land rezoning and additional terms. As these conditions remain outstanding the parties have by mutual agreement ended Stockland’s obligations under the original agreement and Stockland has entered into a new, exclusive arrangement to negotiate terms in relation to the proposed acquisition.

Full statement here..

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