Villa World : 13 Jun 2017 - Acquisitions - Plumpton

13 June 2017

Acquisitions - Plumpton

The Company is pleased to announce it has agreed to the unconditional purchase of two sites at Plumpton, in the north west growth corridor of Melbourne.

The total purchase price is $44million (inclusive of GST) with settlement of one site anticipated to occur in July 2017 and the other in July 2019. The settlement in July 2017 will be funded from working capital and/or debt.

Both sites are within the areas of Precinct Structure Plans which are expected to be gazetted later in 2017, with an expected total yield in excess of 500 lots. The projects will contain a mixture of house and land product, as well as vacant home sites.

The Company's CEO & Managing Director, Craig Treasure, said "Following the success of our capital raising initiatives in March and April this year, we are very pleased to secure these sites as part of our strategic objective to increase land stocks in growth areas.

We have a number of existing projects in Plumpton, including the recently launched Sienna Rise, and our capacity to acquire sites such as these moves us further towards our target portfolio of 20% NSW, 40% Queensland and 40% Victoria."

These projects are expected to commence contributing to the Company's profit in FY19.

For enquiries: Craig Treasure

CEO/Managing Director Tel: (07) 5588 8888

securityholder@villaworld.com.au