Cedar Woods Properties Acquires Development Sites Across Victoria, Queensland
Cedar Woods Properties (ASX:CWP) acquired a number of development sites as it seeks to strengthen its medium-term development pipeline across Queensland and Victoria, according to a Friday Australian bourse filing.This includes a townhouse development site in Kealba, Victoria, which the firm acquired for AU$30.9 million on deferred terms to deliver around 200 townhouse lots. Settlement is expected in mid-fiscal 2028.The company also acquired an apartment development site in Fairfield, Queensland for AU$27.3 million on deferred terms to deliver over 500 apartments across multiple stages. Settlement is expected mid-fiscal 2027, subject to planning-related approvals. It acquired land adjoining the existing Flourish community in South Maclean, Queensland for AU$5.3 million, adding around 47 lots to the project pipeline.Cedar Woods Properties is also progressing two land acquisition opportunities in Western Australia, subject to ongoing negotiations and due diligence.The company added that it was on track to deliver the top end of fiscal 2026 earnings guidance, with net profit after tax growth of 30% to 35%.Cedar Woods Properties' shares rose past 2% in recent trading on Friday.
