Central Equity Group - their selling Melbourne apartments off the plan to Perth buyers. Anyone had any dealings? thoughts?
http://melbournepropertyexpo.com/index.asp?id=115
http://melbournepropertyexpo.com/index.asp?id=115
Central Equity Group - Melb Apartments
- Thread starter Property WA
- Start date
yeah exactly my thought and the position i was also coming from.
Just wondered what others thought or if they held dealt with in the past...
Just wondered what others thought or if they held dealt with in the past...
I looked at a lot of CE properties when I was apartment shopping but decided against them all. Mostly because they were a) virtually all located in Southbank whereas the CBD was more appealing to me and b) at my price range the views were pretty poor.
Personally, I wouldn't buy off the plan.
Their building quality used to be crap. In recent times, I have seen more reputable companies working on their projects, so they may have improved.
Major issues: no scarcity in area - CE and others just keep putting new buildings up all the time. You apartment will be OLD within 3 months as something newer would have popped up.
Cheers,
The Y-man
Thanks Y-Man & MichaelParis,
Quality is one thing that I've been trying to determine based on their previous completed developments. If you were looking at Melb inner city apartments to buy - which developer would be your choice ?
Guess the main thing that caught my eyes was rental returns off a low purchase price.
Quality is one thing that I've been trying to determine based on their previous completed developments. If you were looking at Melb inner city apartments to buy - which developer would be your choice ?
Guess the main thing that caught my eyes was rental returns off a low purchase price.
My preference has always been Mirvac. I like their projects, and they seem to retain value quite well.
Cheers,
The Y-man
(I don't hold any direct shares in Mirvac at present!!)
I went to one of their so call 'road show' at Le Meridian Hotel (opposite to Perth Convension centre), end up there are about a dozen of sales person waiting for you to come in and there are about 6 desks in the room for you to sign up a contracts.
The first question I have been asked was 'Are you going to sign a contract today'? Once I show no interest in signing up, well no one will pay any attention to you no more.
If you are refering to their City Tempo development, it's a studio type apartments which the size is smaller than my bedroom. LOL
The first question I have been asked was 'Are you going to sign a contract today'? Once I show no interest in signing up, well no one will pay any attention to you no more.
If you are refering to their City Tempo development, it's a studio type apartments which the size is smaller than my bedroom. LOL
CEG have always gone for "middle of the road" designs, finishes and therefore costs, whereas Mirvac are definitely at the more premium end of the market. Their selling prices reflect that.
CE have been doing that since the late 90's.
I recall CE management/ownership is linked to Hong Kong - but can't find any links now....
Cheers,
The Y-man
Easier to sell to people who are not familiar with the Melbourne property market I guess.
Many people who bought CE apartments off the plan in the early 2000s are looking at zero or minimal CG since then. There are just so many, and because the are mid-level quality, don't tend to attract many OOs who will generally drive CG for apartments.
Many people who bought CE apartments off the plan in the early 2000s are looking at zero or minimal CG since then. There are just so many, and because the are mid-level quality, don't tend to attract many OOs who will generally drive CG for apartments.
Hi
I've never liked Central Equity.
I've been using this site to research new properties lately.
http://www.4sale4investors.com.au
All the best.
Steve
I've never liked Central Equity.
I've been using this site to research new properties lately.
http://www.4sale4investors.com.au
All the best.
Steve
CE are also very pro-active in selling to expats or those wanting to invest in Australia from the UK.
I went to one of their seminars in London a few years back.. was definatley a hard sell, they could even organise finance for you on the day!
The seminar was very good, for those who aren't familular with Melbourne it certainly comes across as a great investment.. but as others say, the quality appears to be lower than others and they ahve certainly flooded the market.
I went to one of their seminars in London a few years back.. was definatley a hard sell, they could even organise finance for you on the day!
The seminar was very good, for those who aren't familular with Melbourne it certainly comes across as a great investment.. but as others say, the quality appears to be lower than others and they ahve certainly flooded the market.
Middle managment may have some employees of HK origin, but the owners are a respectable Jewish family. One of sons is a very good friend of mine.
