PRG (Project group)

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<font face="verdana, arial, helvetica" size="1" ><b>From:</b> G V</font>


PRG is selling property in selected locations of sydney . These properties have Govt. guaranteed lease for up to 10 years. (add says no vacancy ,no management,no maintenance,no risk etc.). Is it worth looking . any info would be appreciated.

Thanks

GV

[michaelg]

<font face="verdana, arial, helvetica" size="1" ><b>Reply:</b> 1 </font>
<font face="verdana, arial, helvetica" size="1" ><b>From:</b> Michael G</font>


Find out who the tenants are.

If they're Dept of Defense employees, then this company must be upping the margin somewhere (possibly) and selling you DOF places.

For such a long lease work out;

- how much the property management fee is (normal is 5-10%) anymore and they are loading it with something else.

- how much the property price is compared with houses in the area. Get the details of the house, and ask some agents in the area how much a 3bed/2ba with 2garages cost etc.

Michael

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<font face="verdana, arial, helvetica" size="1" ><b>Reply:</b> 1.1 </font>
<font face="verdana, arial, helvetica" size="1" ><b>From:</b> Sergey Golovin</font>


Sounds like it is Holsworthy site, Liverpool, Sydney?

What's wrong with them? Is the Army still there or are they on the move.
Who are they rented to - to anyone or the army?

Serge G.

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<font face="verdana, arial, helvetica" size="1" ><b>Reply:</b> 1.1.1 </font>
<font face="verdana, arial, helvetica" size="1" ><b>From:</b> G V</font>


Hi,

They are 2 bedroom units @ summer hill,west ryde and homebush west for govt personal. all very near to railway station. Units @ summer hill are 355000.00 range(blown my budget). Expected rent 320 - 340 weekly. It is residential plus commercial. there are about 26 units. expected to be completed in 15 months. half of them already sold off the plan.annual increment of 4%. units @ west ryde around 300000.00 .ex pected rent 300 - 320. I didn't ask further as i was not interested.

GV