Azzura Pacific resort

[rustica]

Info from the Gold Coast Bulletin for those who are involved or are considering being involved

http://www.goldcoast.com.au/article/2008/06/07/12179_gold-coast-business.html

[muppet]

Yep, things are tightening up in Australia as well.

The grass isn't as green as it once was and I am picking that the number of NZers leaving to cross the ditch will fall in the coming months.

[Dean@Massiveaction]

Fantastic news. Construction delays = more capital growth. It is anticipated to be delayed for a couple of years. I love off the plans :-)

[powerbroker50]

Dean

You may love off the plans and I do to. However the Gold Coast is a roller coaster location, it goes up it goes down. Frankly I am suprised you picked this area to push to New Zealand investors. You would be far wiser sticking to main cities.

[rustica]

And not good for those who were encouraged to get 'deposits bonds' (that have a maturity date, and high interest rate paid monthly. Where will they get funding in this market for this type of investment?) or who used equity and now paying interest on the 'deposit'.

Not only that, CPI whose land the building was going to be on, stopped trading their shares on Friday on the ASX.

[halfempty]

i didn't think deposit bonds came under risk until ground was broken?

[rustica]

Iv'e had several dep bonds and they were paid out by the bond company on UC, because that is when the deposit is due, and interest is payable from pay out.

In the case of land, the developer needs the deposit to get the project going, so doubt a bond company would give the developer the money, then not expect interest from the purchaser?

Maybe someone who has gone ahead with a dep. bond, on an off the plan could let us know

[Dean@Massiveaction]

Not with APR Rustica. Nothing due till you get the keys.
Ours are all BG's anyway which cost peanuts.

Hi Nigel. I'm not pushing anything onto anybody. I'm simply telling people where I am investing and inviting them to join me in the same properties I am buying. The current situation in Oz is creating a further shortage of supply. That will be good for investors Australia wide. Mining towns are my only concern as they have such small populations.

[Taurean]

Rustica, re your title Azzura Pacific, how are they going

[rustica]

Rustica, re your title Azzura Pacific, how are they going

Depends who you talk to LOL

PS How is you 'side issue' going with the developer?

[rustica]

APR and BGs?

Hey Dean, can you give us some more info on APR and BG's.

[Dean@Massiveaction]

Nothing to tell re BG's. They just roll every year until project is completed. Longer the delays the more capital growth.
City Pacific have delayed commencement due to the financial dramas world wide. It is all still proceeding but breaking ground is delayed basically.
Business as usual but more time for the values to increase.

[Taurean]

They've (Azzura) got me on the ropes, I made a mistake, they know it, I've just got to hope they are the ethical, family orientated, moral group they are promoted and espouse to be.

Bit dissapointing though taking a while to settle, would hate to have made a mistake with a purchase price of 600 to 800K.

Be sure I will keep this posted.

[rustica]

Good Luck Taurean, It will be very interesting how this one pans out

[rustica]

Dean whats APR? I hear it is only a deposit bond available recently?