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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 footprint on a much larger block of land. We had nine car spaces which we saw as a very valuable addition to the premises.

This was not only our first commercial renovation, but also the first in the Sydney CBD. We had to employ a team of architects, hydraulic, electrical and structural engineers and consult with town planners and the Sydney City Council in approaching the renovations the building had to undergo. In such a project it is important to have a good grasp of the detail and be across every aspect of the proposal. We relied on our hydraulics engineer for an opinion on the adequacy of the sewerage, but when the water board tested the sewerage lines they failed. This was an expensive mistake but it taught us the value of checking everything that so "experts" put to us.

In 1987 asset values were going through a boom. We had taken an old warehouse and converted it into a light and airy office space. It is testament to the quality and aesthetics of our renovation that this property was acquired by an interior design company.

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