Australia Financial Review
28th April 2015
Pellicano Group has sold more than $33 million of industrial assets across two properties in south-east Queensland in the first quarter of 2015, to reinvest mainly in Queensland residential construction. The private development and construction company will have 360 apartments across three projects under construction this year. Two are in Brisbane and the other is in Melbourne. It its the most in its 47 year history. “We feel that it is a good time in the property cycle for us to be selling some of our non-core industrial assets due to the yield compression, and reinvesting this equity into our residential development pipeline in south-east Queensland,” Pellicano Group joint managing director Nando Pellicano said.