Clearstate set to deliver 1,700 new homes into Sydney, Melbourne and Brisbane markets

Sydney-based land developer, Clearstate, having completed their first major capital raising.

They are now set to deliver 1,700 new homes to Sydney, Melbourne and Brisbane.

Clearstate kicked off in 2011 and was placed third in the Australian Financial Review’s 2017 Fast Starters list.

Kandis Investments Ltd, an affiliate entity of US-based global investment firm, Avenue Capital Group, has agreed to finance Clearstate with a facility of up to A$50 million.

Clearstate Managing Director, Dean Willemsen (pictured above), said the facility will help Clearstate embark on a new era of expansion.

Currently Clearstate's development pipeline is approaching 600 lots.

The capital raising was facilitated by EY Australia, who secured the partnership with Avenue Capital Group, based in New York.

Clearstate has developed land projects in Sydney’s North West and South West growth corridors, as well as Melbourne.

The company’s latest project, Rouse Hill, is located on Tallawong Rd, Rouse Hill, NSW with house and land packages starting from $777,000.

Clearstate has completely sold 8 other developments ranging in size from 9-59 lots.

They currently have one other one other development with lot's still available for purchase, Candlebark at Box Hill.

Home and land packages at Candlebark start from $688,000.