Salford Living buys Tarneit Skies from receiver

It took just 17 weeks from when Victorian village Tarneit Skies was placed in receivership
to be purchased by Salford Living. Located in the Werribee northwestern outskirts of
Melbourne and comprising of 92 ILUs and 31 apartments (with space for another 36 ILUs),
it was developed by Tom Camp. The village itself has always been regarded as a ‘happy’
village but Camp was only able to achieve four apartment sales in two years placing strain
on his finances. Justin Kavanagh, the Chief Investment Officer of Salford Living, says their
initial plans are to offer them as serviced apartments. The price paid will become known
when the receiver reports to ASIC and creditors.