Jul 21 2017Add to Favorites
Originally published in The Sydney Morning Herald
An executive with Melbourne real estate agency Lemon Baxter is practising what he preaches to some clients – listing the building, in an apartment hotspot, for sale.
As to be expected, the South Melbourne site has had maximum value added – with a permit in place to fill the airspace with a major residential building.
SOURCE: The Sydney Morning Herald
Home loan approvals have fallen significantly off the back of the APRA and the Royal Commission initiatives together with new Responsible Lending Criteria. The ABS recently reported that home loan approvals have fallen by 13.6% year on year and within that, investment loans have come back by c.20%
Off the back of successfully settling a $48m syndicated first mortgage for a residential apartment development in Sans Souci just weeks ago, Sydney-based real estate investment manager Centennial Property Group (CPG) opened a new fund with a focus on the industrial and logistics market, Centennial Industrial and Logistics Fund II (CIL II). The fund, available only to wholesale and private high net worth investors, opened on 1 November and was seeking to raise c. $38 million. CPG closed the fund less than two weeks later, well before the official close date, due to oversubscription.
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