Melbourne boutique investment bank Kidder Williams bought control of Prime Trust last year. A subsidiary of Kidder Communities will now start a new company to manage the 12 rental villagers that Prime Trust took back from the original Village Life group (now called Fig Tree). This will be particularly challenging given the historic tight margins of the rental model combined with falling occupancy levels of some Prime Trust rental villages.
ATO plans to charge GST on manufactured home parks scrapped
A concerted effort by the Residents Association of manufactured home parks has headed off the ATO which had planned to impose GST in mobile homes. This would have added 10% to the cost of the purchase of a home