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Peet secures two high quality projects in Adelaide

Peet has entered into a Development Management Agreement with Renewal SA on two inner-city sites in Adelaide, South Australia. 

The first site is 3.6 hectares located in Forestville, 1.5 km south of the Adelaide CBD, which will be developed by a consortium of which Peet is a member. The development will deliver retail, education services, short-stay accommodation and a diverse range of apartment and townhouse living.

Peet’s role and revenue share in the consortium is in respect to the development and sale of up to approximately 217 dwellings (townhouses and apartments), which have an expected gross development value of circa $90 million, with the balance of the project to be undertaken by the other consortium members.

The first stage of Peet’s component of the project is expected to commence construction in FY24, with earnings to commence thereafter.

Locale Forrestville Artists Impressions of Locale at Forrestville
Forrestville Townhouses

The second site is 3.7 hectares located in St Clair, 7 km northwest of the Adelaide CBD, which is expected to be developed into 172 dwellings, comprising a mix of high-quality townhouses and apartments.

South Australian-based social and affordable housing provider Junction, which provides access to housing for low-to-moderate income earners, will participate in the purchase of dwellings in the St Clair development and facilitate various home ownership pathways, including affordable build-to-rent product.

In working with Junction, at least 45 per cent of the proposed 172 dwellings will be set aside as affordable housing, three times the 15 per cent typically required.

The first sales at the St Clair project are expected to commence in the second half of FY23, with the expected gross development value of $40 million and related earnings spread over FY24 and FY25.

 

St Clair Adelaide

Aerial photo of St Clair

 

These two projects build on the longstanding partnership between Peet and Renewal SA, which has included the award-winning Lightsview community and our latest venture, Fort Largs, which is currently under development.

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Peet delivers a solid first half performance

POSTED ON 22 Feb 2018

Peet Limited today announced an operating profit and statutory profit after tax of $21.9 million for the half-year ended 31 December 2017, which represents an increase of 11% compared with the previous corresponding period. Peet Managing Director and CEO, Brendan Gore, said the result was underpinned by continuing strong conditions across east coast markets which saw the Group achieve strong growth in operating margins.

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Tour de Wellard

What's On - March

POSTED ON 20 Feb 2018

Get involved with whats happening in our communities around the country this March! Find out what's on in your state.

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Googong Central

Googong unveils $143 million town centre

POSTED ON 19 Feb 2018

We are excited to unveil plans for our biggest expansion at Googong yet – a $143 million town centre that will bring 1800 new dwellings, 4500 residents and hundreds of jobs to the ACT region.

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Parkindula Bluestone South Australia

Parkindula Village – the new heart of Bluestone

POSTED ON 15 Feb 2018

There’s an exciting new precinct at Peet’s Bluestone, Mt Barker community in the Adelaide Hills – Parkindula Village – which is set to become a new focal point and central hub for this vibrant growing community.

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Corporate cycling day

Corporate cycling day raises funds for cancer sufferers

POSTED ON 2 Feb 2018

Important cancer research and therapy was the big winner at the annual Penny’s Hill Peloton corporate event on Saturday 20 January.

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Food trucks at Shorehaven

What's On - February

POSTED ON 23 Jan 2018

Get involved with whats happening in our communities around the country this February! Find out what's on in your state.

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Tonsley Village sales office

Introducing Tonsley Village – Adelaide’s most innovative new address

POSTED ON 16 Jan 2018

You can now be part of Tonsley Village, one of the most exciting and innovative residential developments in South Australia, which was officially launched by the Honourable Kyam Maher MLC, Minister for Manufacturing and Innovation, on Sunday 14 January.

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L-R: Toby Long (General Manager Mirvac), Tony Gallagher (Regional General Manager, Peet Limited), Malcolm Leslie (Senior Project Director, Peet Limited), Mayor Tim Overall, Councillor Michele Biscotti, James Service (Chair of Googong Township)

Googong landmarks receive new Aboriginal names

POSTED ON 27 Nov 2017

Four prominent landmarks in the new township of Googong have been given Aboriginal names in recognition of the area’s Indigenous heritage which dates back more than 20,000 years.

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FY17 Results Cover Image

Strong full year performance for Peet Group

POSTED ON 24 Aug 2017

The Peet Group today announced an operating profit and statutory profit after tax of $44.8 million for the year ended 30 June 2017, which represents an increase of 5% compared with last financial year. Managing Director and CEO, Brendan Gore, said the results were achieved on the back of continuing strong conditions across the Group’s east coast markets. “The Group has continued to achieve price growth in these key markets and particularly across the Victoria portfolio. There were also signs of improvement in the Queensland portfolio, with increased levels of enquiry and sales,” said Mr Gore.

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Peet community partnership's video thumbnail

Peet Community Partners

POSTED ON 19 Aug 2017

Supporting the community is in our DNA. Here are just some of the highlights of the wonderful local groups and organisations we have supported through our Community Partnership Program over the past year.

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Lego Travellers at Lakelands

Lego Travellers visit Peet Communities

POSTED ON 24 Jul 2017

Peet has been thrilled to have the Lego Travellers touring its communities in Western Australia throughout July.

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Googong Mums

Health and wellbeing at heart of Peet communities

POSTED ON 18 Jul 2017

Lifestyles are evolving and Peet is creating communities that respond to the changing needs of homebuyers at all stages of life. Not surprisingly, more residents are making the most of the shared spaces – parks and open spaces that are designed as a kind of ‘communal backyard’ with places to get active and also relax with parklands, waterways, walking and cycling trails, BBQs, shelters, and play equipment.

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Flagstone Bridge Opening

Flagstone Bridge Opening

POSTED ON 10 Jul 2017

We have a big, bold vision for Flagstone in Queensland where 12,000 homes and a complete city centre will be built over the next three decades and were excited to mark a major milestone on the project last week.

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Bradham

Peet preferred proponent for affordable housing project in Brabham

POSTED ON 5 Jul 2017

Peet is pleased to have been selected as the preferred proponent to partner with the WA Housing Authority to deliver the new Brabham project. With the potential to be home to thousands of residents with more than 3,000 dwellings, schools, neighbourhood shops and recreational areas, Brabham will be a major transit-oriented development linking the Swan Valley with the Perth CBD.

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Lakelands Shopping Centre

Doors open at Lakelands Shopping Centre

POSTED ON 27 Jun 2017

The new Lakelands Shopping Centre opened its doors to hundreds of waiting shoppers on Wednesday 21 June and is now the largest shopping centre between Mandurah and Rockingham south of Perth. The 20,000sqm centre is anchored by Coles, K-Mart and ALDI and boasts more than 40 specialty stores.

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Military Art

Military Art Program 2017 | Peet Limited

POSTED ON 1 Jun 2017

A unique exhibition of artworks from current and former serving defence personnel will be open – with some works available for sale – on the weekend of 25-26 June only at Wilkinson’s Gallery, Claremont Showgrounds. More than 100 works from participants in the Military Art Program Australia (MAPA), including representatives of Army (including SASR), Navy and Air Force, feature portraits, landscapes, abstracts and military war dogs, wildlife and other military and non-military subjects, a variety of sculptures and other works.

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First Home Super Saver Scheme Explained | Peet Limited

POSTED ON 10 May 2017

If you’re looking to take that first step on the homeownership ladder, the Federal Government’s First Home Super Saver Scheme will help you save for a deposit by salary sacrificing into your superannuation account.

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Aspect Norsta townhouses

Small Lot Houses On Trend | Peet Limited

POSTED ON 3 Apr 2017

Peet’s commitment to innovation has always been a key driver of its success. Today’s affordability pressures; changing demographics and lifestyles; and the need to limit urban sprawl have all contributed to the increased demand for smaller lots and built form options that don’t compromise on space or quality.

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Military art workshop

Art At Sea Helps WA Forces This Festive Season | Peet Limited

POSTED ON 7 Dec 2016

WA defence personnel are taking up ‘arms’ in the form of pencils and paints to help them cope with being far from family and home during this festive season. A new initiative is encouraging serving men and women to immerse themselves in drawing and painting while they are away on a tour of duty. The Art In The Field project provides individual art packs to defence bases, outposts and naval vessels to give military personnel an artistic alternative to the usual off-duty activities such as fitness, sports and games – with a high degree of therapeutic benefit.

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Major General Stuart Smith AO, DSC, Legacy Australian Ambassador and former Legacy ward launched the OLAKC in Canberra

Peet To Support Operation Legacy Australia Kokoda Challenge 2017 | Peet Limited

POSTED ON 16 Nov 2016

Major General Stuart Smith AO, DSC, Legacy Australia Ambassador and former Legacy ward, has today launched a joint initiative which will see Australian Defence Force (ADF) Members mentor Legacy youth in a leadership development challenge, to commemorate the 75th anniversary of the Kokoda Campaign.

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Peet Managing Direct and CEO, Brendan Gore, with Alongside's Sarah Yates at Peet's 120 year anniversary celebrations

Alongside Strengthens Support For Frontline Families | Peet Limited

POSTED ON 6 Sep 2016

More than half a million people make up Australia’s frontline, working as Defence or Emergency Services personnel, where exposure to trauma is unavoidable and there is an increased prevalence of mental health problems.

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Major new South Australian project for Peet Group

Peet Announces Major New Redevelopment Project In Tonsley SA | Peet Limited

POSTED ON 30 Jun 2016

The Peet Group will partner the South Australian Government in the redevelopment of the residential component of Tonsley – a major new education, industry and residential precinct just 10 kilometres from the Adelaide CBD.

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UC signing

University Of Canberra & Peet Plan $1.7 Billion Project | Peet Limited

POSTED ON 30 Jun 2016

The University and Canberra and Peet have entered a conditional agreement for the proposed development of a new and innovative residential community in the ACT.

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Coastal Lakes College image1

Education Minister opens Coastal Lakes College

POSTED ON 1 Jan 0001

Western Australian Minister for Education and Training, the Hon Sue Ellery MLC visited Peet’s Lakelands Estate on Friday 15 February to officially open the new public secondary school, Coastal Lakes College.

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