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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 first stage under loan license agreements under the Retirement Village Act. However this coincided with the Global Financial crisis and retirees felt vulnerable to falling asset values and income. We quickly changed our strategy to amending the project to strata title, thus addressing the issue of security as well as being able to market to the wider community.

Despite the Global Financial Crisis, and the prevailing uncertainty the work we had done in the wider community in marketing over the years paid off. We had a data base of over 200 potential leads and we were successful in selling the first five units in six months.

From our marketing we came to realize a number of improvements that we had to undertake. The main ones were to have a third bedroom, and wider garages. Released from the need to have wheel chair access and a special fit-out for retirees we were able to accomplish these changes without adding significantly to the cost.

We have presold the next stage of 4 houses and are currently into marketing the 3rd stage of 5 houses.

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