Tyre tycoon - industrial properties

[MTR]

Was reading the profile on this guy, have not read API for a long time, anyway its Geoff Gregory, multimillionaire businessman.

Owns $10M of exclusively southeast QLD titles, or the bank, does not state interest rate??

This is his portfolio, so within less than 12 months he has made a cool $1M.


shopping centre with 11 retail outlets
purchase price Dec 2012 $4,100,000 current value $4,500,000

commercial complex with 14 tenants
purchase price Feb 2013 $2,750,000 current value $3,000,000

Industrial building
purchase price June 2013 $1,200,000 current value $1,500.000

Medical Centre with 3 tenants
purchase price Aug 2013 $1,500,000 current value $1,500,000


Rent per week - $22,413
Total Purchase Price: $9,550,000
Current Value: $10,500,000

 

[BayView]

That's what aspire to.

Good on him!

 

[ComIP4Me]

Be curious to know what means of valuation established the new values?

 

[Player]

Be curious to know what means of valuation established the new values?

Could be rent rises/reviews within that period that cap the value up, albeit it a couple of them (middle two) seem like a decent few hundred kay gain in mere months.

I don't always believe what is written in API mag et al, as far as revaluations, however not trivialising the accomplishment. It seems like a sweet portfolio. Nice return by any metric whether original purchase or current value. Good on him.

 

[westminster]

Was reading the profile on this guy, have not read API for a long time, anyway its Geoff Gregory, multimillionaire businessman.

Owns $10M of exclusively southeast QLD titles, or the bank, does not state interest rate??

This is his portfolio, so within less than 12 months he has made a cool $1M.


shopping centre with 11 retail outlets
purchase price Dec 2012 $4,100,000 current value $4,500,000

commercial complex with 14 tenants
purchase price Feb 2013 $2,750,000 current value $3,000,000

Industrial building
purchase price June 2013 $1,200,000 current value $1,500.000

Medical Centre with 3 tenants
purchase price Aug 2013 $1,500,000 current value $1,500,000


Rent per week - $22,413
Total Purchase Price: $9,550,000
Current Value: $10,500,000

I'd want to know if that rent covers the mortgage.
Also interesting to see what happens in the future as presumably he has bought fully tenanted and when leases come up it could hurt badly if tenants move out.

 

[speary]

By my calcs that's a 12.2% return so I'd say he is in a pretty decent place even if mortgaged up to the hilt, especially if that's a net lease figure