Sunland Group (ASX:SDG)- CEO, Soheil Abedian
CEO, Soheil Abedian
Source: Urban Developer
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  • Development company Sunland Group (SDG) has announced it is selling the Carrum Downs property in Melbourne for $17 million
  • So far, not many details about the sale have been released but the company did say the agreement is unconditional
  • The settlement is expected in December 2021
  • Additionally, Sunland also sold its Coolangatta property in Queensland for $12.8 million
  • On market close, Sunland is up 0.88 per cent and trading at $2.28 per share

Sunland Group (SDG) has announced it is selling the Carrum Downs property in Melbourne for $17 million.

The company announced this news after market close on Friday, December 18.

Sunland has not given any details about who the buyer is or what its plans are. It did mention the settlement of the property is expected to be completed in December 2021.

Notably, the sale of this agreement is unconditional.

Coolangatta Sale

Earlier Friday morning, the company entered a conditional agreement to sell its Coolangatta property in Queensland.

Under the contract, the purchaser who is associated with Joe Adsett Architects, has agreed to pay $12.8 million for the property.

The property is located next to Sunland’s Greenmount Beach Hotel, which is also currently on the market for sale.

The purchaser has paid a deposit of $500,000, another deposit is due when the contract becomes unconditional.

Settlement of the property is expected to be completed on September 30, 2021.

On market close, Sunland is up 0.88 per cent and trading at $2.28 per share.

SDG by the numbers
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