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Ph (03) 9600 1111
Fax (03) 9278 8830
Level 9, 365 Queen St
Melbourne, Vic 3000
Australia
Southbank Central
Inspect at
191 CityRoad Southbank
Melway: 1D M6
Mon - Sat, 10am to 5pm
Sundays 12 to 5pm |
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News & Editorials
Every week Central Equity writes a number
of news editorials which appear in Melbourne newspapers. This weeks article is posted below.
Click here
to access our archive of news editorials
25/11/00
CENTRAL
EQUITY's Q&A to BUYING PROPERTIES OFF-THE-PLAN IN AUSTRALIA
Buying
properties can be a nervous decision: where to buy, who to buy it
from, how much to pay and the list goes on. One fact is people may
not be familiar with 'buying off the plan' so doing research on the
developer's background is almost as critical as selecting the location
and the price to pay for the property. Unless you put in the time
and do your homework, you are guaranteed the exposure to high risks
in your investment.
Below are some questions and answers that may start you off. These
are some of the frequently asked questions by Central Equity's clients.
All answers are relevant and apply to Central Equity only. Central
Equity recommends that you seek independent financial and legal advice,
as Central Equity and its subsidiaries (including Melbourne Inner
City Management) are in the business of building and selling residential
accommodation including apartments in Melbourne.
WHO IS THE DEVELOPER AND HOW MUCH EXPERIENCE DO THEY HAVE?
Central Equity Limited management have been developing property for
over 25 years. In recent years the company has sold in excess of $1.2
billion of inner city homes, making Central Equity the largest and
most respected developer of inner urban residential property based
in Melbourne.
Central Equity's strength has been built on outstanding design, prime
locations, along with a commitment to quality, excellent value, and
service.
WHY IS CENTRAL EQUITY THE MARKET LEADER?
Central Equity is unique among residential developers in Australia;
by controlling all aspects of its developments from start to finish
and beyond, the company enjoys a high level of referral sales.
A 'one-stop-shop' concept Central Equity and its subsidiary companies:
- Own all properties for development.
- Supervise all elements of design and the delivery of quality built
developments.
- Market all properties directly, and are committed to providing excellent
customer service with their own staff, 7 days a week.
- Provide leasing, rental management and maintenance services, 7 days
a week.
- Act as a body corporate manager.
- Central Equity has a long term relationship, and commitment to delivering
what is promised to its clients.
IS THE DEVELOPER A PUBLICLY LISTED COMPANY WITH SUBSTANTIAL FUNDS
AVAILABLE?
Central Equity Limited is listed on the Australian Stock Exchange,
and has approximately over 4000 shareholders.
CAN I SEE THE DEVELOPER'S AUDITED FINANCIAL STATEMENTS?
Central Equity's Annual Report and regular reports to the Stock Exchange
are readily available. This shows that the Company has low debt, financial
strength, and an unrivalled track record in reliable design and construction.
Central Equity is listed on the Australian Stock Exchange and included
in the All Ordinaries Index.
For copy of Central Equity's annual report, you can visit our website
www.centralequity.com.au or contact Central Equity on 9600 1111.
CAN THE DEVELOPER SHOW YOU A RANGE OF COMPLETED INNER CITY HOMES?
A sample of Central Equity's recently completed residential properties
includes:
- The Promenade, Melbourne
- Southbank Condos, Southbank
- Royal Flagstaff, Melbourne
- The Sovereign, Southbank
- Yarra Condos, Southbank
- Southbank Towers, Southbank
- The Focal, Melbourne
- Melbourne Condos, Southbank
- Spring Street Towers, Melbourne
- The Boulevarde, Melbourne
- The Princeton, Melbourne
- City Condos, Melbourne
- Melbourne Condos, South Melbourne
- Plaza, South Melbourne
- Parkside, South Melbourne
- Rivergarden Condos, Southbank. This is the most recent completed
development, and it is truly a unique opportunity to inspect a fully
furnished apartment in the building. Details of location and time
of opening is at the end of the editorial.
Central Equity is happy to arrange inspections for you to see a finished
apartment and facilities at your convenience.
WHAT DOES CENTRAL EQUITY DO TO ENSURE QUALITY CONTROL?
Central Equity's commitment to a quality assurance program demands
the highest standards from suppliers, contractors and trades people.
Central Equity¹s building staffs are highly qualified and supervise
all aspects of construction. Central Equity has a continuing commitment
to independently researching its completed developments to improve
product and services.
IS THERE A MAINTENANCE WARRANTY?
All brand new Central Equity apartments include a 10 year building
warranty in accordance with State Government legislation. This warranty
does not necessarily apply to refurbished buildings.
It is comforting to know that once you settle Central Equity still
cares about the little things. For up to 3 months you can write to
our maintenance staff and they will promptly attend to your maintenance
needs giving you real peace of mind.
ARE THERE ANY EXTRA CHARGES OR HIDDEN FEES?
When purchasing from Central Equity you pay only the listed purchase
price. There are no hidden fees. The purchase is strictly fixed price.
ARE THERE ANY PROGRESS PAYMENTS?
Purchase from Central Equity, and only a 10% deposit is required.
This is held in a solicitor's trust account and is effectively government
guaranteed. Nothing further is paid until your apartment is completed.
WHAT TYPE OF TITLE SHOULD YOU EXPECT?
Residential properties and carparks should have freehold title. All
of Central Equity's inner-city homes and apartments have freehold
title.
WHAT ABOUT AFTER SALES SERVICE?
Central Equity management have been building homes and apartments
for over 25 years. This success is largely attributable to the Company's
outstanding dedication to after sales service and customer satisfaction.
Central Equity has an on going commitment to all of its projects and
clients.
HOW DO I BEST MANAGE MY INVESTMENT?
Central Equity¹s wholly owned subsidiary, Melbourne Inner City Management,
provides an exclusive service in leasing & body corporate management
to our investors. Central Equity is a one-stop-shop for investors,
as Melbourne Inner City Management provides high quality service including
maintenance and suitable reporting for taxation purposes. Buying off-the-plan
maximises the investor's depreciation allowances and Stamp Duty savings.
WHAT ASSURANCE IS THERE THAT YOUR NEW APARTMENT WILL BE COMPLETED
ON SCHEDULE?
Central Equity's many years of experience and track record in both
commercial and residential development ensures that your apartment
will be quality built in a timely manner as contracted.
WHY DOES CENTRAL EQUITY OFFER A RENTAL GUARANTEE AND WHAT BENEFITS
FLOW FROM IT?
Central Equity's rental guarantee ensures that properties can be placed
on the market to lease in an orderly manner ensuring investors of
a regular income from the date of settlement. The breathing space
offered by the rental guarantee optimises Melbourne Inner City Management's
ability to secure a quality tenant at optimum rent, while the investor
is receiving income from day one.
IS THERE ANY ADVANTAGE IN BUYING A BRAND NEW APARTMENT OFF-THE-PLAN
IN VICTORIA?
Yes, only purchasers of residential property in Victoria benefit from
the large stamp duty savings worth thousands of dollars when buying
off-the-plan prior to the commencement of construction. Typically,
savings range between $8,000 and $20,000. Note: Maximum savings do
not necessarily apply to refurbished buildings.
Above questions provide a guide to your research before buying a property.
There are other areas that have not been covered. Any good developer
or real estate agents will be more than happy to assist with the questions.
Otherwise, you would have to question their credibility, especially
when purchasing a property is not a small decision for many of us.
At Central Equity, we encourage purchasers to question as we believe
in our product and in our business.
Click
here
for the archive of Central Equity editorials
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18/11/00
11/11/00
4/11/00
28/10/00
13/10/00
13/10/00
6/10/00
7/07/00
23/06/00
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 for other articles please visit our archive.
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About
Central Equity