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Stockland to pay A$398M for prime land in Sydney

Stockland entered into an agreement to purchase a roughly 184-hectare prime land at Marsden Park in Sydney for A$398 million over five years on deferred terms.

The deal is subject to land rezoning, among other conditions, and the site can accommodate approximately 2,000 new residential lots, the company said in a release.

The land sits adjacent to Stockland's Elara master-planned community, which will include nearly 4,000 homes upon its completion.