BlueScope today announced that it has exchanged contracts with one of Australia’s largest home builders for the sale of 33 hectares of residentially zoned land in West Dapto that had previously been flagged for sale in 1H FY2026. Completion is now expected in 2H FY2026, for a consideration of $76 million.

The agreed price reflects a robust outcome above recent comparable sales at over $200 per square metre. BlueScope does not expect a material impact on its previously affirmed 1H FY2026 guidance range due to the sustained strength of operating performance across the business through the final months of the 2025 calendar year.

The development of the 33-hectare West Dapto site will accommodate more than 350 residential lots, supporting housing supply in the Illawarra region. Aligned to BlueScope’s strong relationship with the developer, the project will prominently feature BlueScope’s premium product offerings such as COLORBOND® steel roofing, fencing and garage doors, as well as TRUECORE® steel framing.

Mark Vassella, Managing Director & CEO, said, "In addition to the cash profit that it delivers, this sale provides a clear base line for the significant value in our non-operational land portfolio of over 1,200 hectares, and demonstrates our ability to unlock it in a way that has the greatest benefit to BlueScope. We’re pleased to add to the supply of residential land in the Illawarra, alongside one of Australia’s largest home builders."

In a separate portfolio milestone, on 11 December 2025, the NSW Minister for Planning and Public Spaces, the Hon. Paul Scully MP announced that the 200 hectares of non‑operational land adjacent to the Port Kembla Steelworks have been rezoned to Special Purpose (SP4), expanding the permissible use of the land beyond heavy industry. This rezoning will allow for a broad range of commercial and industrial development uses and enables an expedited pathway for approvals.

Read the ASX Announcement.