Another profitable project from the Reid property group.
PROJECT TYPE
Operating Private Hospital
Negotiated complex purchase Secured investor Formalised management contract Re-named to Brisbane Private Hospital Operated hospital as Directors
Project Status
SOLD
INVESTOR PARTICIPATION
One private Investor
Investor achieved approximately 100% return on the freehold and business over three years Our group achieved approximately 300% return on our equity in Brisbane Private Hospital Pty Ltd
Formerly known as The Holy Spirit Hospital and owned and operated by the Sisters of Mercy. 161 Bed Private Hospital with 6 Operating Theatres. Successfully bid for the purchase of the property and business.
We secured interest from a private investor, who delayed commitment to the project until after we had committed unconditionally to the purchase. The investor subsequently negotiated full ownership to the freehold prior to settlement of the purchase.
Re-named Brisbane Private Hospital by Michael Reid, and re-branded by our group. We retained 50% of the operating hospital business until sale of our interest to the joint venture investor and freehold owner.
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Another profitable project from the Reid property group.
PROJECT SUMMARY
Commercial Refurbishment
Public Company tenant secured Conversion from Industrial to Commercial Office Completion of $4.5m refurbishment
Project Status
Completion of capital works in record time On time and on budget
SOLD
Investor Participation
Nil Investors
On Completion Value represented a 73% Project Profit
Major Commercial Refurbishment Adjacent to Brisbane’s new Cruise Port Terminal, Hamilton. Over 2000m2 of commercial office space plus off street parking for approximately 40 cars. Purchased in 2006, Refurbished in record time for APN Newspapers in early 2007. Balance of approximately 300m2 ground floor tenancies refurbished in 2008. This was a significant project, being implemented under a new system of streamlined management and reporting.
The entire building was effectively returned to a shell, with new electrical, mechanical, and plumbing throughout. Original face brick internal walls were re-exposed, additional upper flooring was poured at the front of the building. New stairs, a generator and a lift were installed, and an extremely high quality fit-out was introduced including C-Bus wiring for the incoming tenant APN Newspapers, a division of the publicly listed APN Group, who by 2010 occupied the entire building excluding a small coffee shop.
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If you would like any more information about current projects or would like to join our investment group, please do not hesitate to contact us.
Another profitable project from the Reid property group.
PROJECT TYPE
Commercial Refurbishment/Leasing/DA
Project Status
SOLD
Project Period
2002 to 2007
Commercial Consolidation and Refurbishment. A consolidation of three old warehouses which had been converted into commercial offices. Originally 501 Adelaide Street was purchased in 2002 by our group in association with joint venture partners. This was an old 4 Storey Commercial CBD Building, largely tenanted.
We obtained a Development Approval for a 35 Storey Student Accommodation tower. Subsequently the same group purchased 499 Adelaide Street, and later 495 Adelaide Street. Plans were drawn for both the refurbishment of the existing buildings, and for the complete re-development of the site with a commercial/residential tower. At the peak of the commercial cycle the project was sold in 2007 to the Meriton group for high-rise development.
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If you would like any more information about current projects or would like to join our investment group, please do not hesitate to contact us.
Another profitable project from the Reid property group.
PROJECT TYPE
Commercial Refurbishment/Strata/Leasing
Project Status
SOLD
Project Period
2002 to 2011
12 Story Building in the golden triangle of Brisbane’s CBD. Over 3000 m2 of dual use commercial/residential. Purchased in December 2002.renovation of the lift cars, and conversion of the lower levels into The Tank Hotel.
The building was converted to strata title, and the majority of the floors were sold between 2003 and 2006, with the last two floors being sold in 2011.
Drop us a line
If you would like any more information about current projects or would like to join our investment group, please do not hesitate to contact us.
