Sunday, April 13, 2008

Allisee Development

First, Stockland sold its Saville hotel and apartment development to MFS/Stella, who have rebranded Saville as Mantra.

Next, Stockland has had a hard time selling its Koko development on the river at West End. It has reduced prices of the highend stock.

Now, Stockland is abandoning its Allisee development on the Broadwater on the Gold Coast. An advertisement in Thursday's AFR states that Stockland is selling Stage 3 of Allisee in one line -- total area of 8,679sqm over 3 sites. (The advertisement also states that Stage 1 is complete and 80% sold, and Stage 2 is underdevelopment with 30% sold.)

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