Australian Stock News Stockland (SGP)

Stockland SGP ASXStockland (SGP) is one of Australia’s largest, most diversified property groups.  SGP holds a portfolio of retail, commercial, residential, industrial and hotel properties across the country.

SGP has been one of the shares to sell in recent months, dropping from around $4.08 in early September to be now trading around $3.70.

On 7 December, SGP announced that it had won the right to develop a masterplanned community at the Lockerbie site north of Melbourne.

The Lockerbie site is worth $4 billion, whilst the proposed masterplan includes around 11,500 residential lots and an 85 hectare city centre.

The land is expected to be brought to the market over the next 30 years, with first settlement due in late 2014 or early 2015.

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