Home builder rivals amass stake in Simonds Group

Home builder rivals amass stake in Simonds Group
Jonathan ChancellorSeptember 25, 2016

Queensland's biggest builder, Impact Homes, has taken a 4.9 percent stake in its rival, the Simonds Group.

McDonald Jones, the biggest builder in NSW, also holds just over 5 per cent of the ASX-listed stock. 

Last month Gary Simonds reached an agreement with Melbourne's wealthy Roche family to take the home builder private with shareholders to vote on the plan in early November.

The Simonds family who own 39 percent of the stock are unable to vote on the scheme.

Simonds posted a $14.9 million annual loss for fiscal 2016.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Editor's Picks

City Beat January 2025: Sydney property market cooldown slows as new apartment pipeline ramps up
26 Vista Street, Surfers Paradise apartment development, hits 70 per cent sold
Latent Defects Insurance 101: What is the Technical Inspection Service (TIS) Program
City Beat January 2025: Gold Coast property values continue to grow as off the plan enquiries hit near 12-month high
Live parkside in Melbourne for under $500,000