Aland Equity Executes Management Rights Agreement for Elm Grove Heights, Targeting AU$75,000 Income Per Lot, Shares Fall 6%
MT Newswires Live
1 hour ago
Aland Equity Group (ASX:AEG) said its unit Aland Equity Land has executed the Management Rights Agreement for 56 residential lots comprising the Elm Grove Heights Land Release in Bungendore, replacing the previously disclosed heads of agreement, according to a Monday Australian bourse filing.
The company said estimated fund income is about AU$75,000 per lot after all costs, with AEG entitled to 100% of fund investment returns and fees, and a sales and marketing campaign scheduled to start in late September.
The company's shares fell 6% in recent Monday trade.
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