Australia's Sunland Group sees best day in near 1 month on Queensland land deal

Sunland

18/03/2021 01:04

** Shares of residential property developer Sunland Group
Ltd  SDG.AX  gain as much as 4.1% to A$2.3 - their biggest
intraday percentage gain since Feb 25
    ** Co says it will sell its land in 600 Coronation Drive
Toowong, Queensland for A$43.4 mln ($33.96 mln), conditional
upon reconfiguration and subdivision of the land  urn:newsml:reuters.com:*:nASX9mqLXp
    ** Brisbane-based developer Consolidated Properties Group
will proceed with the purchase of major part of the land for
A$35.5 mln
    ** Stock hits its highest level since March 3
    ** SDG down about 1% this year, as of last close
    ($1 = 1.2780 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))