Sumitomo to Aquire 51% of Scott Park Group
Sumitomo Forestry Co Ltd has entered into an agreement to acquire 51% stake in the Scott Park Group Pty Ltd.
The Scott park group has many home building brands under its umbrella like Redink Homes, 101 Residential, B1 Homes.
The group also has Lets Finance SP ceilings & Insulation, Glass Co Metro and SPG site services.
Redink Homes has offices in Perth and operates Mid West and the South West.
The Scott Park Group Builds approximately 600 homes per year.
Sumitomo Forestry operates a housing business in the east coast of Australia, they have home building companies Henley Properties Group and Wisdom Properties Group.
This latest’s acquisition of the Scott park group now gives Sumitomo Forestry Co close to 3000 new homes builds a year.
Sumitomo USA has home builders like Bloomfield Homes, Gehan Homes, MainVue homes, Dan Ryan Homes, Edge Homes, just to name a few.
On its current form would Sumitomo Forestry Co would be the second or third biggest home builders in Australia.
This combined with the US homes builders pushes this annual number to close to 10,000 homes per year.
About the Author
Tristan Kirkham | Managing Director
Tristan has managed some of Australia’s major building companies, both project and private. His committment to customer service and providing market leading communication product for the home building industry has led to a role as regular Judge in the HIA Green Smart, HIA Kitchen & Bathroom Awards and the major Housing Awards. Winning multiple awards throughout his career in the housing industry, he is dedicated to improving the industry standards and practices. Tristan's vision is to provide a better way to build homes for all parties.