Western Australia in particular has long been a preferred haven for cashed-up South African investors, but lately their attention is increasingly attracted to commercial property opportunities in South-east Queensland.
Noosa's Settler's Cove development by Cape Bouvard is scrambling to keep up with demand.
Once a quiet coastal town, Hervey Bay has now become one of the most sought-after locations in Australia. The region's population growth, the fastest on the eastern seaboard has been rising at 5% annually. Beyond this is the Bay's burgeoning tourism industry with over 1 million visitors each year and climbing.
The old adage location, location, location, proves itself once again, with the first stage of apartments at the landmark Settler's Cove development, Noosa Heads, sold out. Stage two, the Riverlight apartments, due for completion December 2008, has just been released and is 70% sold.
Pelorus Property Group Limited (ASX: PPI) is to launch a $60 million wholesale opportunistic fund under an offer to be jointly arranged with Grant Samuel. The fund will be open to sophisticated and professional investors. The fund's mandate will be to generate absolute property returns with a focus on development opportunities and difficult or distressed real estate in Australia and New Zealand.
The 14th Annual PIR Property Funds Industry Forum is the pre-eminent conference on the property funds calendar and is a must attend event for all industry professionals. World-class presenters from Australia, USA, Asia and Europe will provide unique market intelligence and professional insights into the global and domestic property funds industry.
The latest interest rate rise and predictions of further rises this year will hit the property market and leave some developers struggling, says Hall Chadwick insolvency expert, Geoff McDonald.
