Sumitomo Forestry has entered into an agreement to acquire a 51% stake in Scott Park Group, a company that operates a custom-built housing business in Western Australia. The acquisition was made through its wholly owned Australian subsidiary, Sumitomo Forestry Australia Pty Ltd. Source: Timberbiz
Scott Park Group supplies approximately 600 custom-built houses per year and is the fifth-largest homebuilder in the state in terms of number of detached housing starts.
Scott Park Group has developed into one of the major suppliers of custom-built housing n just a few years since its establishment in 2006, through a strong focus on product quality and the provision of customer-centric services.
Sumitomo Forestry operates a housing business in eastern Australia through two companies, Henley Properties Group and Wisdom Properties Group.
The acquisition of shares in Scott Park Group marks Sumitomo Forestry’s first entry into Western Australian markets and by extending its network across the whole of Australia, it intends to heighten the synergistic effects of the three companies.
Following this share acquisition, the Sumitomo Forestry Group’s total house sales in Australia now approach 3000 units per year. The Group’s total combined sales in Australia and the US have reached 10,000 units per year.