Teak Capital Partners of Singapore has bought into the 25-level Grande Pacific development at Southport on Queenslands Gold Coast for $44 million. The development is largely sold while still nearing completion. Teak Capital is reported to have first option on other Grande Pacific developments, reflecting long term confidence in the market and high rise model.
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