• Purchased a residential development in Red Head NSW at discount to valuation
  • The building comprised 16 individual residential apartments less than two years old and unoccupied
  • AsheMorgan purchased the apartments with a view to sell these down over a 15 month period
  • Sales prices were adjusted to meet current market demands
  • AsheMorgan maintained control of the management of the assets and the sales agents’ marketing strategies
  • The apartments were successfully sold at market rates within 8 months providing a capital return of 1.74 times