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WPT – Fund Update Property Acquisition

The Board is pleased to announce it has agreed terms for the Trust to acquire the balance of the Yamba Quays residential development site, located at Witonga Drive, Yamba NSW.

The site is DA approved for 136 home sites, and will be acquired and developed in two stages. Stage 1, comprising 42 lots, will settle in early January 2019. The Stage 1 acquisition price, stamp duty and development costs totalling approximately $15 million will be funded from existing cash reserves. The purchase of Stage 2 will settle in approximately 18 months.

This is a strategic acquisition for the Trust, being virtually the last canal development remaining on the NSW coast and is in the growing coastal township of Yamba, located at the mouth of one of Australia’s largest rivers, the Clarence. Importantly, the development will complement the Trust’s “Epiq Lennox” development.

Of the 136 lots in the Yamba Quays development, 107 have water frontage with easy and direct access to the Clarence River and Pacific Ocean.

Marketing of the 42 Stage 1 lots has commenced. If you are interested in receiving information about this exciting land release, including a sales plan, please register your interest at www.yambaquays.com.au.