Morningstar says Australia's GemLife site purchase marginally value accretive

GemLife Communities

18/12/2025 20:05

** Gemlife  Communities Group GLF.AX said on Thursday it was set to buy a 32.5-hectare greenfield development site in Townsville, Queensland, for A$21 million ($13.89 million)

** Co says will seek approval for over 500 manufactured home sites and associated facilities
** Morningstar says purchase price is marginally value-accretive, notes detached home prices are around A$700,000 in the region
** Investment research firm hikes fair value estimate by 4% to A$5.00 to reflect time value of equity; stresses that land purchase immaterial to valuation
** Shares closed down 0.6% on Thursday

($1 = 1.5115 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))