Pacific International Hotel Investment

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From: Amanda B


Has anyone come across the investment opportunity in Market St, Melbourne?
WestPoint developers are selling hotel rooms that are on lease back to the Pacific Int. Hotel chain.
If so I am curious as to how you found out about the investment... ;-}
 
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Reply: 1
From: Dale Gatherum-Goss


Hi

Yes, they sent some information to my office - unrequested. I followed it up and have spoken to them about the investment.

It is only positively geared if you take into account the tax refund. Otherwise, it is negatively geared despite what they say.

I'm also keen to know more about a secondary market. That is, should I chose to sell my unit (assuming that I had bought one) how do I do it, is it easy enough to do and what prices would it fetch?

In short, I'm not convinced. They were meant to get back to me with more information before Tuesday night, but, nada!

I'm not convinced it's a good investment for me.

Have fun

Dale
 
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From: Amanda B


Thanks Dale..

The reason why I asked was I came across the apartments by walking past them.. Long story short, got a copy of the contract to go through (they're selling off plan) but didn't go through with the purchase after a chat with my solicitor and that the Westpoint 'sales' reps said the apartments were being marketed through "investment/financial seminars". I was curious to check that the price WestPoint listed was the same the financial crowd would be selling them at.. (hence overpriced..)
 
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