InvestSMART

Aland Equity Group Limited (ASX:AEG)

ALERT: Price-sensitive ASX Announcement for AEG
Current share price for AEG : $0.092 0.017 (22.67%)+
Announcement
Release
23 Jun 2026 9:41AM
Price at Release
$0.075
Full Release
download
Summary
Aland Equity Group Limited has executed a Property Funding Deed for the Chinnerys mixed residential development in Bungendore, NSW, marking a significant expansion in their funds management business. The deed secures long-term funding rights over 3,200 residential lots with a 30% gross profit margin integrated into acquisition pricing. AEG will manage and co-invest in the fund, while development is handled by external entities. The project benefits from its proximity to Canberra and is part of a strategic growth corridor, aiming to meet the rising demand for housing due to regional population growth and governmental employment initiatives.
Key Points
  • AEG Executes Chinnerys Property Funding Deed for a mixed residential development in Bungendore, NSW.
  • The Funding Deed replaces a previous Heads of Agreement and secures funding rights over 3,200 residential lots.
  • A 30% gross profit margin is integrated into the fund acquisition pricing, equating to $174,000 per lot.
  • AEG will act as fund manager and co-investor, with development executed by external groups.
  • AEG holds a 10+10 year exclusive term secured by mortgage, caveat, and power of attorney.
  • 60 million shares to be issued to Mr. Brinkmeyer, subject to shareholder approval.
  • The acquisition price for residential stages is determined by an independent valuer with a 30% profit margin.
  • The project is located within the Canberra growth corridor, benefiting from strong transport connectivity.
  • AE Landco, a subsidiary of AEG, will facilitate the financing and acquisition of development stages.
  • The site is strategically positioned near major employment centers and government facilities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.