Willdale Limited cleared illegal settlers off its 123.6-hectare Mt Hampden site and handed the property to contractors who are building an industrial commercial park. The brick company plans to sell residential and commercial stands from the development to fund a capital raise that will pay for a new all-weather production plant and boost working capital.
The property sits inside the boundaries of a proposed new city, and management expects land sales to start generating cash next quarter. Revenue from the real estate play should help the firm modernize its brick manufacturing tech and expand market share after volumes took a hit.
The property sits inside the boundaries of a proposed new city, and management expects land sales to start generating cash next quarter. Revenue from the real estate play should help the firm modernize its brick manufacturing tech and expand market share after volumes took a hit.
