July 15 (Reuters) - Peet Ltd (PPC) :
- Peet acquires 1,100-lot residential project in QLD (PPC)
- Established a new wholesale fund with Peet and Supalai public company, each
being 50% co-investors
- Peet will act as the development manager for the fund
- Wholesale fund has acquired residential estate in Redbank Plains, Queensland
to create a 1,100-lot residential master-planned community
- Says total acquisition price for the properties is $37.45 million
- Says medium-term outlook for the Queensland residential market remains
positive
- Estate is already developing and selling, it is expected to contribute to FY
2017 earnings"
