Key features of the business include:

• Involved in the design and construction of affordable free standing residential houses in the eastern states of Australia. The business does not employ trades people but rather subcontracts out the various trades such as carpentry, bricklaying, plastering and electrical works

• Sales are $70 million and normalised earnings before interest and tax (“EBIT”) are $4.5 million

• Significant work in progress and forward orders - the construction pipeline is currently valued at approximately $69.6 million comprising houses worth:
- $23.9 million under construction;
- $16.7 million where the Business was contracted to build the house but construction had yet to commence; and
- an estimated $29.0 million where an initial deposit had been paid but the property owners had yet to sign a building contract;

• Net assets employed in the business are approximately $10 million which mostly comprise display homes

• Award winning house designs and extensive network of display houses - the business has won numerous industry design awards and has an extensive network of display houses located on the east coast of Australia which ensures that it has a strong presence in these regions. The business also has a diverse range of its own house designs

• Excellent systems and processes - the business has excellent systems and processes in place to ensure that all construction projects taken on are accurately costed. Actual costs are regularly compared to budgeted costs

• Experienced & loyal staff - the business has an excellent team of capable staff with extensive experience in project managing the construction of houses

• This business is ideally suited to either an existing construction company looking to expand or a broad acre residential developer looking to value add by offering house and land packages

Posted Mar 11, 2015

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