Folkestone (FLK)

Shares / Stock Code

FLK

Stock Exchange / Sharemarket

Australian Securities Exchange

Folkestone (FLK) is involved in property development, property investment and project management. It focuses on the industrial, commercial and residential property segments of the Australian market. FLK is focused on growing its property portfolio to increase its business, which it hopes will make the company large enough for inclusion in the ASX 500.

The Company’s subsidiaries include Folkestone Freeholds Pty Ltd, Folkestone Developments Pty Ltd, Folkestone Project Management Pty Ltd, Fenchurch Pty Ltd, Folkestone (EMT) Pty Ltd, Folkestone East Melbourne Trust, Access Constructions Pty Ltd, Sorrento (VIC) Pty Ltd, Folkestone (Bayside) Pty Ltd and Ceres House Pty Ltd.

FLK is a manufacturer of real estate products for on-sale to investors and owner-occupiers. One of its major developments has been the Hilton Hotel at Melbourne Airport. Other developments undertaken include business parks, industrial estates, suburban offices and apartment buildings. FLK's method of operation is to buy land, build, lease and sell. Where possible, the company endeavours to secure pre-commitments from tenants or purchasers prior to commencing construction.

Major competitors would be other financial diversified trusts on the market that focus on capital property growth in commercial, industrial and retail sectors. Customers would consist of companies, that is, tenants offering to lease the property, retail and car park spaces within the buildings of the property portfolio.

Folkestone History

Folkestone was formed in 1967 originally established as a long-term investor in real estate but since mid-1980s changed to property development. In the past 15 years, FLK has completed and sold more than $1.3B worth of real estate developments. Official quotation of FLK shares commenced in mid-June 2000. Folkestone's two largest developments in recent years have been 700 Collins Street, a 17 storey office building in Docklands, and the 280 room Hilton Hotel at Melbourne Airport.

Folkestone (FLK) Products and Services

  • Property development and construction of industrial and low rise commercial buildings

Folkestone (FLK) Locations and Subsidiaries

Folkestone Head Office
Suite 8, 14 Lionel Road,
MT WAVERLEY, VIC 3149
Phone: 03-9670-7028
Fax: 03-9642-1081

Folkestone (FLK) Share Price

Submitted by ASX Listed Company on 24 March, 2010 - 05:25

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