MEDIA RELEASES

Links Living Spends $35 Million on Sandhurst Climate Change

Residential golf course projects with their extensive open space and environmental capability to improve the quality of air and water have become the sustainable green wedges of Australia’s suburbs facing climate change.

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Links Position’s Itself for Further Growth

Links Living Limited today announced it welcomed its new financial relationship with Babcock & Brown Residential Land Partners (ASX: BLP).

BLP will obtain an economic interest in Links’ two premier Victorian developments Sanctuary Lakes Resort and Sandhurst Club together with a right of refusal to invest in Links’ existing and new development projects for a period of three years.
Links and BLP’s interests in the Sanctuary Lakes Resort and Sandhurst Club projects will be aligned through Links retaining a financial performance based economic interest in both developments. Links’ confidence in the BLP business model and the value it places on its ongoing relationship with BLP is evidenced by Links’ significant investment in BLP securities that will occur upon settlement of the transaction, which is expected to occur in late August.

Clinton Casey, Chairman of Links, today said, “The arrangements place Links in a very strong financial position to continue to expand its business nationally through its existing pipeline projects and new acquisition opportunities that become available”.

“This is another significant step in Links’ growth strategy and further enhances its position as a leading developer and manager of golfing residential projects in Australia.”

Under the arrangements Links will continue to develop, manage, market and brand Sanctuary Lakes Resort and Sandhurst Club. There will be no changes to PGA Links management of the two Clubs.

Mr Casey said, “the involvement of BLP will not affect the day to day running of the projects and it will be business as usual. The investment in our projects by BLP is a major boost for and vote of confidence in our projects and reinforces the developer’s commitment to deliver on the full potential of these projects and we expect that this will be viewed as a significant advantage to all our current and future landowners and golf club members.”

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Ron Smith Corporate Media Communications LinksLiving
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