Press Release - Thakral buys the Glades, Robina

Press Release - Thakral buys the Glades, Robina

03-Feb-2000

Thakral Holdings Group today announced that it had acquired The Glades Robina for $27 million from Korea Construction group, Dong Ah.

The Glades is a golf course residential project on a 134-hectare site immediately west of Robina Town Centre, Southeast Queensland. The site comprises a completed Greg Norman "signature" golf course, partially constructed clubhouse and golf lodge together with land with approvals in place for up to 1,000 residential entitlements.

Announcing the acquisition, Mr. John Schaap, Managing Director of Thakral Holdings said "the Glades represented a unique opportunity to acquire a major subdivision site integrated into the Golf Course and within walking distance of Robina shopping centre and high school".

Robina railway station, which provides a direct service to Brisbane is close by and the Brisbane-Gold Coast Highway abuts the Western Boundary of the site. The highway is currently being upgraded to 4 lanes each way and will be completed in September.

"We believe Robina has all the ingredients necessary for a successful project which will be developed and sold progressively over a 4 year period" Mr. Schaap said.

"The acquisition is consistent with our desire to further diversify Thakral's core business of property investment. We will consider introducing Joint Venture partners in this project".



Released by: Thakral Holdings Limited


Through: FCR (Financial & Corporate Relations)
Contact Anthony Tregoning (02) 9235 1666.

For further information or comment, please call:
John Schaap
Managing Director
Thakral Holdings Limited
on (02) 9272 8888

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