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Airport Lodge Botany

We had cash at our disposal it was time to invest again in underpriced assets. We recognised the need for budget accommodation near Sydney Airport. The sites we were offered carried too much risk in terms of financial commitment.

Having purchased the Hampshire Hotel we looked for a smaller project and found the Airport Lodge in Botany. This was a boarding house on a large block of land. Behind the original terrace house there was a block of 24 units let on a permanent basis.
We put plans into Botany Council to improve this to a 59 bed boarding house. The buildings were linked to make the service of breakfast possible. The new areas were rented to corporations for their staff working during the week in Sydney, on various projects in and around the airport.

We sold this business which had a very strong cash flow. It only required one part time person to make breakfast, and clean the common areas. The Airport Lodge was positioned to sell to a "mum and dad" team and with a more regular cash flow, with less work than a motel.

Lakes Hotel Gardeners Road Rosebery

Our family company had been operating hotels in New South Wales on brewery leases. In 1982 Random Breadth Testing was introduced in New South Wales and the Neville Wran Premier of New South Wales told the hotel industry that they would be allowed to have… Read more

47 Wentworth Avenue

Our accounting practice was leasing premises in York Street and we were faced with a steep rent review. We decided to look for premises to relocate the accounting practice to. 47 Wentworth Avenue was a 4 storey warehouse and office building occupying a small… Read more

Hampshire Hotel Camperdown

We realised early in 1987 that asset values were very high and the yields on which you could sell assets was too low. We sold both the Lakes Hotel and Wentworth Avenue by the middle of 1987 and kept our funds in cash. We went overseas for 3 months to come… Read more

Airport Lodge Botany

We had cash at our disposal it was time to invest again in underpriced assets. We recognised the need for budget accommodation near Sydney Airport. The sites we were offered carried too much risk in terms of financial commitment. Having purchased the… Read more

Lavington Lodge Albury

After we sold the Hampshire Hotel and the Airport Lodge, we had a brief stint of renovating properties in Queensland. We acquired a 32 perch block with an old weatherboard house, and subdivided the land into two 16 perch blocks. Then we moved the existing… Read more

Lavington Gardens

We had a land bank adjacent to the Lavington Lodge Aged Care facility that we had built, and we obtained a DA from Albury Council to build 20 two bedroom retirement homes on these sites. These were to be built in 4 stages of 5 houses a stage. We marketed the… Read more