SUNLAND LANDS IN THE "BIG SMOKE"

Written on the 18 August 2014 by Nick Nichols

SUNLAND LANDS IN THE "BIG SMOKE"

AFTER more than 30 years building a reputation as an iconic developer with an indelible Gold Coast flair, Sunland Group (ASX: SDG) today officially becomes a Brisbane company.

Sunland has relocated its head office from Benowa to the Brisbane CBD following a decision made by the company’s board earlier this year.

However, Sunland says it will retain a strong Gold Coast presence where it has close to $1 billion in developments either planned or under way.

Sunland managing director Sahba Abedian (pictured), who made the move to live in Brisbane a few months ago, has described the Brisbane move as an historic milestone for the company.

“Sunland was founded on the Gold Coast 30 years ago with the creation of a single luxury home,” Abedian says.

“Today the group has a national development pipeline valued in excess of $3 billion along Australia’s eastern seaboard.

“After successfully expanding into Melbourne and Sydney in 2000 onwards, we are embarking on our next phase of growth with the opening of our head office in Brisbane.

“This move aligns with our strategy to increase the group’s portfolio in strong growth markets, particularly in Brisbane, where we are preparing to deliver approximately $650 million in new residential tower projects.”

Sunland has kicked off its Brisbane assault with the $239 million Abian residential tower on Alice Street overlooking the Botanic Gardens.

Pre-sales of the 40-storey project have been running hot with Sunland achieving commitments to 80 per cent of the 142 apartments. Sunland has revealed that sales commitments to date total $160 million for the project, construction of which began in June.

Sunland is laying plans for a second major residential high rise development in Brisbane, this time just outside the city at Toowong on the former ABC studios.

While Sahba Abedian has made the move to Brisbane, Sunland chairman and company founder Soheil Abedian will remains based on the Gold Coast.

The company still considers the Gold Coast to be a key market, with major plans yet to be revealed for the redevelopment of Mariner’s Cove on The Spit.

Sunland recently announced a $136 million medium rise development for Palm Beach to begin next year on the 4.7ha site formerly occupied by the Palm Beach Mobile and Tourist Park.


Author: Nick Nichols

Latest News

BABY STEPS FOR BELLAMY'S IN TURNAROUND

GREEN shoots are appearing in the Bellamy's Organic (ASX: BAL) business in the early days of its turnaround.

T...

LOSSES MOUNT AT SLATER AND GORDON

SLATER and Gordon's losses continue to mount following its disastrous entry in to the UK market. The compa...

NVC PLAYS A DIFFERENT GAME, AND WINS

AS its profits rise, National Veterinary Care's (ASX: NVL) focus on training over retail is proving to be a wi...

SUPERLOOP $2M LOSS DOES LITTLE TO KILL SLATTERY'S CONFIDENCE

BEVAN Slattery (pictured) is optimistic that Superloop's (ASX: SLC) financial position is promising, despite t...

Related News

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so...

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter