Aland Equity Group secures management rights for Elm Grove Heights

Aland Equity Group (ASX: AEG) has entered into a 24-month Management Rights Agreement (MRA) for the Elm Grove Heights land release in Bungendore, New South Wales. The agreement, signed with Elmslea Land Developments, covers 56 residential lots across Stages 2B-1 and 2B-2.

This project marks the first implementation of Aland’s capital-light property funds strategy, allowing the company to expand beyond traditional equity funds management. Under the MRA, Aland’s subsidiary, Aland Equity Land Management Rights, holds exclusive rights to manage the subdivision, oversee development approval conditions, and coordinate sales and marketing. The company will finance the costs of these services and receive a fee of $140,000 for each lot sold.

Aland expects the project to generate approximately $75,000 in income per lot after costs. Managing director David Nolan stated that the property funds platform is expected to deliver its first revenues and significant profitability in FY27. Sales and marketing campaigns are scheduled to begin in late September, initially targeting Canberra and surrounding regional markets.