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Aqualand Group secures strategic investment in McGrath

People & Companies / Latest News

Australia / Sydney

Jun 22 2018

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AL Capital, part of the Aqualand Group, has made a strategic investment in McGrath Limited (“McGrath”), by way of two share placements.

Aqualand has acquired an initial stake of [8.7%] in McGrath under the first complete share placement. The second placement, which is conditional on McGrath shareholder approval, will give Aqualand a further interest of [6.3%] in McGrath. This significant stake achieves strategic commercial alignment between Aqualand and McGrath.

AL Capital CEO, Wayne Mo, commented:

“Aqualand is pleased to enter into this strategic relationship with McGrath. We have observed McGrath for some time and have developed a positive view of the overall business operation and the capability of the McGrath leadership team. We believe McGrath has good potential for future growth and that this growth will only be enhanced by our relationship.”

Aqualand is a leading Australian property development and investment group established in Australia in 2014 and has since generated a portfolio of 18 sites with a collective gross development value of c.$5 billion. Aqualand was selected by the NSW Government, as part of a consortium with Scentre Group and Grocon, to jointly develop the $2 billion Central Barangaroo project.


About Aqualand
 

Aqualand Australia was established in 2014 and has since generated a portfolio of 18 sites with a collective gross development value of c.$5billion.

Aqualand distinguishes itself as a developer of both Prime Foreshore Residences, boasting views across the iconic Sydney Harbour, and a Strategic Urban Regenerator, in areas benefitting from close proximity to key transport nodes, retail hubs and education facilities.

It has a long-term aim of generating and fostering new communities, creating legacies for future generations. To this end, Aqualand consciously undertakes long-term projects, which range up to 10 years in development.

Aqualand is also a vested corporate citizen, sponsoring sporting and cultural initiatives such as The Australian Ballet, Sydney Film Festival, The Art Gallery of New South Wales, Sculpture by the Sea (Bondi), and the Western Sydney Wanderers.

Aqualand is a member of the Australian Property Council and Urban Development Institute of Australia.

Image: Gold Coast Bulletin

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