Cedar Woods buys up land in Swan Valley

Cedar Woods has expanded its Western Australian land holdings with the acquisition of a 20.2 hectare site directly adjacent to the Company’s best-selling project, Ariella, in Brabham. The land was purchased for $28.25 million, with payment on deferred terms and settlement in July 2019, from private landowners Minx Pty Ltd and West Swan Pty Ltd. Cedar Woods’ Western Australian State Manager, Ben Rosser, said the purchase was consistent with the Company’s history of counter-cyclical acquistions and capitalised on significant benefits by being adjacent to an existing estate of the Company. The property is zoned Urban and is expected to yield approximately 380 lots. Location Plan: #Development