OPERATIONS REVIEW
Overwhelming response on launching day of MPV
Zealand economy andAuckland residential property
market. As at 31 May 2014, a further 8 apartment
units have been sold totalling NZ$7.2million. Of the
remaining 21 units, 4 units have been leased out.
The Group aims to maximise its asset values
through the best use of land. Redevelopment
and change of use opportunities of its properties
are constantly evaluated to ensure highest
end-value. It is well positioned to ride on the
robust Sydney residential property market with
3 exciting development projects in the pipeline.
Macquarie Park Village (“MPV”), to be built on the
site where Stamford Grand North Ryde is currently
operating, is located in the thriving Macquarie
Park – New South Wales’ fourth largest business
centre. MPV is a 20-minute drive away from
Sydney CBD. With the Macquarie University next
door and Macquarie Shopping Centre and train
station within a 5-minutes walk, this attractive
project is a runaway success with pre-sales of
96%. As at 31 May 2014, only 22 units of the
648 units project were left. The A$460 million
mixed-use development, comprising seven towers,
is slated to begin construction in third quarter
of this calendar year with completion expected
in 2017.
19
STAMFORD LAND CORPORATION LTD
ANNUAL REPORT 2013/2014
