Report - Hotspotcentral Hood S… · STATISTICAL INDICATORS 5 FUNDAMENTAL INDICATORS 5 Project &...
Transcript of Report - Hotspotcentral Hood S… · STATISTICAL INDICATORS 5 FUNDAMENTAL INDICATORS 5 Project &...
PO Box 2068
Burleigh Heads QLD 4220
Property Investment Report
56 hood St, Sherwood QLD
Units 1, 5 and 9
INVESTMENT SNAPSHOT 2
What makes this a good investment? 2
WELCOME MESSAGE 3
CAPITAL GROWTH DRIVERS 4
83% Pass on THE Property Selection Index (PSI) 4
STATISTICAL INDICATORS 5
FUNDAMENTAL INDICATORS 5
Project & property attributes 5
WHOLESALE VERSUS RETAIL 7
HOW IT WORKS …. 8
Investment Entity 8
Borrowing Funds for Development 8
Post Settlement Strategies 8
LOCATION 9
56 Hood St, Sherwood 9
walk score = 71/100 10
TRANSPORT 11
SMART SCORE: 91% 12
PROPERTY PARTICULARS 13
introduction 13
typical floor layout 14
Price list 15
rent appraisal 16
BRISBANE PROPERTY MARKET 17
what the experts say 17
PROPERTY ANALYSIS 18
positively geared after retrieving original investment 18
cash flow summary over 1o years 19
INVESTMENT HIGHLIGHTS 20
HOW TO INVEST 21
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Investment Snapshot
WHAT MAKES THIS A GOOD INVESTMENT?
10 min walk to train line into Brisbane CBD.
Brand new - so maximise depreciation
benefits and rental potential.
A Walk Score® of 78 out of 100 means the
location of these apartments is “Very
Walkable”, so most errands can be
accomplished on foot with great
infrastructure in the area (work nodes,
schools, restaurants shops…).
Sold with independent registered valuation
and fixed build contract.
DSR BoomScore™ is 27 out of 48 having
lifted from 20 out of 48 twelve months ago.
This indicates a growing demand relative to
supply when measured against the 8 leading
property indicators including auction
clearance rates, vendor discounting, online
search interest, gross rental yield, vacancy
rates, stock on market percentage, etc.
Vendor discounting on sales have halved in
12 months (7% to 4%).
The number of days taken to sell properties
in Sherwood have halved in 12 months
indicating an increase in demand relative to
properties available for sale.
More than 4 times the number of people are
searching for property in Sherwood on
realestate.com.au than the Queensland
average.
65% of residents in the area are owner-
occupiers compared to 35% tenants; a near
perfect mix for renting or resale on
completion.
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Note: the costs above do not include Hotspotcentral’s fee of $10,000+GST. Please refer to the Financial Services Guide.
ROI SNAPSHOT Unit 1 Unit 9
Required deposit by investor $168,000 $172,000
Armchair developer estimated cost price $267,000 $275,000
Independent valuation (as if complete today) $345,000 $355,000
Estimated equity gain $78,000 $81,650
Cash on cash Return 47% 47%
Annualised return - return over 12 months 55.3%% 55.3%%
Discount to valuation 23% 23%
WELCOME MESSAGE
Hotspotcentral is proud to offer THREE 1 bed ,
1 bath, 1 SLUG apartments at developer’s cost
price in a boutique block of only 14 apartments.
It is estimated investors will save 23% on
today’s market value as evidenced by a Savills
commercial valuation.
Exclusive to Hotspotcentral investors only, this
is a prime opportunity to co-develop 14
apartments ideally located in the established
suburb of Sherwood.
Sherwood is one of Brisbane's oldest and most
beautiful suburbs bounded by the Brisbane
River. Located on the southern side of the
Brisbane River about 9 km from the Brisbane
CBD, Sherwood has benefited from
enormous buyer interest in near and inner-city
living.
Residents have easy access to Indooroopilly
Shopping town and the University of
Queensland. Public transport is good;
Sherwood has its own railway station central to
the suburb. Like its neighbours, Corinda and
Graceville, Sherwood is a leafy, quiet residential
suburb with some homes located alongside the
Brisbane River.
There is a thriving small business and
commercial centre on one side of the railway
line, including supermarkets and small retailers.
There is also good access to nearby retail areas
in Graceville and Corinda. The suburb is
supported by a number of churches, primary
schools, and sporting fields. Sherwood's
popularity with Brisbane residents is based on
its beautiful older homes and its easy access to
the city and other facilities. Source: REIQ
Apartments in this small block are expected to
deliver strong capital growth and solid rental
income; an assertion supported by strong
fundamental and statistical evidence in this
report. End values are supported by a
comprehensive commercial valuation by Savills
and build costs based on a fixed priced contract
with the Builder, Rawcorp.
The estimated net profit per investor reflects a
23% discount to bank valuation “as if complete
today” with an estimated 47% return on cash
invested over 10 months (55% per annum).
These numbers do not factor in any potential
capital growth during construction. and much
of the potential development risk prior to
construction no longer applies as construction
has already commenced with completion
expected in November 2016.
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Capital Growth Drivers
83% PASS ON THE
PROPERTY SELECTION
INDEX (PSI)
The PSI is an algorithm developed by
Hotspotcentral in conjunction with leading
buyers’ agents and data analysts.
The PSI examines over 100 drivers known to
influence capital growth, rental returns and the
price growth potential for the subject property.
Brisbane generally has been touted for growth
but this does not specify which Brisbane
suburbs will do comparatively better and which
ones to avoid.
The PSI drills down into these micro markets
(e.g. Sherwood - Units) and also factors in the
relative attributes of the subject property and
how it compares to competing alternatives on
factors including price per square metre,
builders reputation, design, fixtures and fittings,
developers reputation).
Each capital growth driver is given a weighting
depending on its relative importance or
influence on overall capital growth potential
when compared with all the other capital
growth drivers and indicators.
Each driver is categorised into three areas of
research before the PSI can be generated:
fundamental, statistical and the attributes of the
subject property.
This complex calculation ensures that all
investment criteria are examined when
evaluating a potential opportunity; a detailed
‘flight check’, if you will, to ensure a safe and
profitable outcome.
Any deals presented to Hotspotcentral with a
PSI score of 75% or more is examined in more
detail before an offer is created in an ASIC
prescribed format under the appropriate ASIC
licensing.
In addition to the upfront discount of 23% on
offer, this PSI score of 83% should give the
investor added piece of mind that their property
should perform well in the medium and long
term after retrieving potentially their entire
upfront cash investment.
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STATISTICAL INDICATORS
DSR BOOMSCORE 27 OUT OF 48 PASS
This implies demand exceeds supply. The higher the
BoomScore the greater the potential for capital growth as
measured on 8 leading supply-demand stats (learn more).
DATA TRENDS PASS
Data is trending in the right direction for most of the data
elements measured.
• DSR BoomScore has increased from 20 to 27
in 12 months.
• Vendor discounts halved in 12 months (7% to
4%).
• Average days a unit takes to sell in Sherwood
has halved in 12 months.
RIPPLE EFFECT POTENTIAL PASS
Surrounded by more expensive neighbourhoods with
similar lifestyle amenities.
AFFORDABILITY RATIO™ PASS
The ratio of median price to median household income
should not be more than the average multiple for similar
surrounding suburbs.
MARKET CYCLE TIMING STRONG
If the suburb has been relatively flat over a 10 year period
when surrounding markets have done well, then there is a
strong possibly the timing is right.
TRADING VOLUME PASS
Sherwood is strongly traded, producing more reliable data
and property is more likely to increase in value if supply
continues at current pace.
RENT TREND PASS
Rents are increasing proportionately (slightly) higher than
similar and surrounding locations.
DEMOGRAPHIC PROFILE STRONG
Demographics are changing with more earning power due
to proximity to major employment hubs in the CBD and
surrounds.
HIGHER OWNER OCCUPIER RATIO STRONG
Although the apartment block will initially be sold to
investors mostly, the high owner-occupier percentage
compared to tenants in Sherwood means there is a large
pool of owner-occupier buyers.
UNEMPLOYMENT RATE PASS
Unemployment is low in Sherwood relative to the rest of
the State.
FUNDAMENTAL
INDICATORS
TRANSPORT INFRASTRUCTURE STRONG
Close to transport nodes including buses and trains, with
easy access to the CBD.
EDUCATION FACILITIES STRONG
There are multiple education facilities including the
University of QLD, private and state schools and daycare
for smaller children.
EMPLOYMENT OPPORTUNITIES STRONG
Sherwood has a number of local employers including the
university of Queensland, and most situated close by in
the CBD.
INFILL AREA EXCELLENT
Infill developments typically attract better rents and prices
due to the established nature of the area and the lack of
development sites and therefore supply (when compared
to massive land estates on the outside of city locations).
DEMOGRAPHIC PROFILE STRONG
Demographics are changing with more earning power due
to proximity to major employment hubs in the CBD and
surrounds.
PROJECT & PROPERTY
ATTRIBUTES
WALK SCORE™ 71/100 EXCELLENT
Very Walkable - so most errands can be accomplished on
foot. A high Walk Score has a proven correlation to higher
capital growth potential.
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PRICE POINT EXCELLENT
Prices for both retail and Armchair developer buyers have
been set at valuation. Most developers price their stock at
slightly higher than valuation. Armchair developers paying
cost price will struggle to find the same price per sqm for
the same property in a similar inner-ring location.
DEVELOPER TRACK RECORD STRONG
The developer has a background in commercial
development funding which has given him a unique
insight into what projects fail and why. Funding Risk is one
of the biggest reasons for projects failing (see ‘risks’ in
Information Memorandum).
DESIGN & LAYOUT GOOD
The block is very small at only 14 units. This is very
attractive for tenants and owner-occupier buyers. The
sizes are good compared to similar priced apartments and
all apartments have functional layouts with good quality
finishes.
Notable inclusions: Ducted air-conditioning, caesar stone
bench tops, Good quality, lower maintenance Schindler’s
lifts (lifts not a requirement for a small block).
CONFIGURATION GOOD
One bedders are perfect for the target market this close to
a university and the CBD including young professionals,
single parents and the growing number of single-person
households.
DENSITY & SCALE GOOD
In 2016, according to the Australian Financial Review,
nearly two-thirds of unit approvals were high rise (4+
storeys or more) with a record low being below four
stories.
This four story apartment is in a low density infill area
which is favoured far more than high density, high rise
buildings typical of much of the unit development in
Brisbane.
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ONLINE SEARCH
INTEREST HIGH DEMAND MARKET
One of the eight statistics we measure for over
15,000 suburbs and use to generate the overall
DSR BoomScore™. In isolation this statistic is a
powerful indicator of demand. When combined
with the remaining 7 stats we get a clearer picture
of Sherwood compares to all markets country-wide
CAMERON KUSHER. CORELOGIC RP DATA RESEARCH ANALYST
”Nearly two-thirds (64.3 per cent) of all units
approved over the year [in Brisbane] were high-rise
(four storeys or more). Just over a quarter (27 per
cent) were townhouses and a record-low 8.7 per
cent were low rise [like 56 Hood St].”
Wholesale versus Retail
The table below illustrates the savings a
wholesale ‘armchair developer’ can expect in
comparison to purchasing the exact same
property on the open market at market prices.
Note how rental yields on cost increase
significantly while the armchair developer
realises a net gain of $128,378 by removing
many of the retail costs. Purchasing the same
property at full market rates would cost the
retail buyer $29,687 in stamp duty and other
indirect purchase costs (like lender mortgage
insurance and additional interest on mortgage
borrowings).
ROI SNAPSHOT Unit#1
Armchair Developer
Retail off-the-plan buyer
Cost of property $267,000 $267,000
+ developers profit margin of 23% $0 $78,000
+ selling costs of 6% $0 $20,700
Purchase Price $267,000 $365,700
+ stamp duty* $0 $11,378
+ legals, lenders mortgage insurance, etc $0 $18,300
Total Purchase Price $267,000 $395,678
Profit or loss on purchase + $98,700 -$29,678
Gross rental yield 6.91% 4.67%
20% Deposit (avoid lenders mortgage insurance) $0 $73,140
Total Difference $128,378 $0
* developer pays stamp duty in certain circumstances.
These numbers are for illustration purposes only and do not take into consideration your particular circumstance.
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How it works …. Each investor contributes between $179,000 to $183,000
(depending upon the Unit selected) in order to fund the
initial costs including purchase of the land and
professional fees associated with council matters and site
preparation.
The bank provides construction funding to completion for
the balance.
Note: Funding has already been approved.
Each Investor will receive a Shareholding in the special
purpose company established to undertake the project.
The Shareholding is relative to the Unit (property) that is
being purchased. In lieu of a profit share dividend, they will
receive their Unit at the Nominated Cost Price as detailed
in the Information Memorandum.
NOTE: The only investment required will be the initial
Deposit and no further funds are required during the
project (e.g. interest on debt).
INVESTMENT ENTITY
A Proprietary Limited Company is created to facilitate the
purchase, development and borrowing of funds from the
Bank to finalise the project. The Project Manager will be
the Sole Director of this Company and will manage the
project to completion and settlement of the Units to each
Investor.
The offer document to participate will be governed by an
AFSL Licensee and all monies will be controlled by the
AFSL Licensee with additional oversight by an
independent Accounting Firm who will provide full
financial reporting, taxation services and all relevant ATO
lodgements for the development company to the
completion of the project.
Once the project is completed and the Units are
transferred to respective Investors; and all accounting and
taxation matters are finalised, the company will be
absolved.
BORROWING FUNDS FOR
DEVELOPMENT
The Development Company will borrow the balance to
complete the development via a major Bank. Interest will
be capitalised into the loan. Once the project is completed
and the the loan paid out, the Units will be transferred to
each investor.
POST SETTLEMENT
STRATEGIES
Following Settlement, your Unit will be transferred to your
chosen entity (stamp duty costs may apply).
The following Strategies can be employed:
1. Retain Unit #9 as an Investment and borrow the
balance. (E.g. unit #1: $275,000 cost price minus
$172,000 equity invested) = $103,000.
Property will be positively geared.
2. Retain Unit #9 as an Investment and borrow up to
77% of the retail end value calculated as 100% less your
23% discount i.e. $345,000 x 77% = $265,650. You would
avoid Lenders Mortgage Insurance and draw your original
$172,000 cash deposit back out.
Property will be either neutral or slightly negatively
geared. Note - you could borrow 80% and use the 3%
balance of 23% discount to pay for stamp duty and other
legal fees.
3. Sell the property off the plan via a local agent and
settle the same day you buyout. You would receive your
deposit of $172,000 plus manufactured equity estimated
at $81,650.
(Note: Stamp duty may be applicable when transferring
the property.)
This is not a formal offer. Hotspotcentral is seeking an expression of
interest from investors who have previously expressed interest in acquiring
property at developer’s cost price. The formal offer will be made subject to
a full information memorandum and FSF on request.
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Location
56 HOOD ST, SHERWOOD 8.3 km from Brisbane CBD
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WALK SCORE = 71/100
• 56 Hood Street has a Walk Score of 71 out of 100.
• This location is described by Walk Score as “Very Walkable” - most errands can be accomplished
on foot.
• 56 Hood Street is a 10 minute walk from the BRIP Brisbane City - Ipswich line, the BRSP Brisbane
City - Springfield line and the CAIP Caboolture line - Ipswich line at the Sherwood, platform 3 stop.
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Transport
Transport/Roads: Sherwood Railway Station is
situated approximately 700 metres to the west
of 56 Hood St and is in close proximity to
shopping centres, recreational and educational
facilities.
An established retail precinct is located along
Sherwood Road 500 metres north-west of the
Units. Local bus services operate in close
proximity, particularly along Sherwood and
Oxley Roads.
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Smart Score: 91%
Sherwood has a very high smart score which is made up of the following attributes that can impact
an area’s desirability and therefore capital growth potential based on demographic profile.
Sherwood therefore has a particularly strong demographic profile in terms of affordability as a factor
of income relative to rents and property prices.
30% of residents in Sherwood are renters, ensuring a ready rental pool for new apartments.
Attribute Weighting
Average level of income 42.9%
Percent teen parent 28.6%
Percent improvised housing 14.3%
Affordability 14.3%
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Property Particulars
INTRODUCTION
The apartment block includes a total of 14 units
comprising 3 one bedroom units and 11 two
bedroom units. It also includes secure under
croft car parking and a lobby on the ground
level, plus four levels of residential units above
serviced by a single passenger Schindler's lift.
Each Unit on offer will also be provided with a
single car bay.
In addition to the standard inclusions below, it’s
worth mentioning these apartments will also
include:
• European Appliances – ceramic cooktop,
oven, slide out range hood, dishwasher.
• Blinds.
• Ducted Air Con.
• Elevator.
• Good size bedrooms for all 3 Units being 3.0
x 3.2 m with inbuilt wardrobes.
• Reconstituted Stone Kitchen Bench tops –
Caesar stone.
• This is in addition to standard inclusions
such as TV/Foxtel points, carpet, towel rails
and more.
The apartments are currently under
construction by one of our preferred builders;
the multi-award winning Rawcorp Pty Ltd.
On completion, the apartments are turnkey and
include everything your tenants require to move
in on completion. They will present very well
and have a high level of finishes including
Caesar stone kitchen & bathroom bench-tops,
stainless steel kitchen appliances including
dishwasher, and with downlighting throughout.
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PRICE LIST
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Extract from Savills Valuation dated December 2015
RENT APPRAISAL
Units 1, 5 and 9 approximately $350/pw to $380/pw
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Rental yields increase from 4.6% to 6.9% for developer investors purchasing a unit at a discount
of around $80,000.
Brisbane Property Market WHAT THE EXPERTS SAY
“Brisbane has had the highest average annual
house price growth across the country’s capital
cities since 1970 at 11% per year” … “Brisbane’s
prices have improved by an annual average of
13.6% since 2000, while Sydney’s annual
average has been 10% during that time.”
Terry Ryder
"Similar market dynamics to
Sydney will drive a 14 per cent
surge in Brisbane house prices
over the next two years to June
2017, but outside of these two markets the
outlook is much weaker". BIS Shrapnel
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A CAUTIONARY TALE!
When quoting the forecasts for Brisbane of the
mainstream media commentators it’s important to
remember that forecasts refer to the average
expectation across a very large market and ignore the
many micro markets that exist.
If the average for Brisbane is 5.7% or Sydney 4.3% in
2016 this means there are suburbs within these markets
that will do much worse and others that will perform
much better than these averages.
To this end there are locations that will perform much
better than Sherwood in just about any major city around
Australia and beyond.
The armchair developer strategy is about seeking the
optimum mix between a location that will sustain good
future capital growth and purchasing the right property
at a substantial and proven discount to market value.
This combination just about trumps any purchasing
strategy in terms of the returns on cash invested and the
amount of time and effort expended to achieve these
results.
I’d rather not overpay for a property in a great location
nor get a genuine discount for a property in a poor
location. Hotspotcentral’s Armchair Developer Program
combines the use of our proprietary location picking
technology (DSR BoomScore™) and the Property
Selection Index that examines over 100 capital growth
indicators seeking to get a balance between the
statistics, fundamentals and the property’s attributes.
- Michael Fuller -
"Brisbane (6.4%) is expected to lead the market in
the next year ..."
NAB Quarterly Review
In the three months to January 31, 2016 dwelling values across
Australia’s combined capital cities fell 0.6%, the latest
CoreLogic RP Data Hedonic Home Value Index shows.
Brisbane (0.8%), Perth (1.7%) and Hobart (3%) were the only
capitals to record positive growth for the quarter.
Property AnalysisPOSITIVELY GEARED
AFTER RETRIEVING
ORIGINAL INVESTMENT
For the majority of investors (depending on
income tax rate), after retrieval of initial sum
invested at settlement, these apartments
should be positively geared.
The 23% discount could serve as a 20% holding
deposit. A 20% holding deposit helps ensure
valuations are upheld and saves lenders
mortgage insurance. The remaining 3% could
be used to offset transaction costs including
legal fees and stamp duty tax.
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Market value at 4.6% p.a. vs Loan
Who pays for the property?
Snapshot Year 1 Year 3 Year 5 Year 10
Cash flow p/a (pre-tax)
$724 $1,624 $2,580 $5,232
Cash flow p/a (after-tax) $4,156 $3,244 $3,476 $4,776
Gross yield 6.79% 7.21% 7.65% 8.87%
Net yield 5.30% 5.62% 5.96% 6.91%
Total returns (cash & growth) $14,074 $45,602 $81,960 $196,809
CASH FLOW SUMMARY OVER 1O YEARS
Show all years (0–10) Today Year 1 Year 3 Year 5 Year 10
Capital growth rate % 5 5 5 5 5
Consumer price index % 3 3 3 3 3
Property market value $ 345,000 362,250 399,381 440,317 561,969
Amount of loan $ 281,349 281,349 281,349 281,349 281,349
Statistics
Equity in property $ 63,651 80,901 118,032 158,968 280,620
Loan to value ratio % 81.55 77.67 70.45 63.9 50.06
Surplus equity to reinvest $ 5,349 8,451 38,156 70,905 168,226
Buying power $ 26,745 42,255 190,778 354,524 841,130
Rental income $ 365pw 18,980 20,136 21,362 24,765
Gross yield % 6.79 7.21 7.65 8.87
Net yield % 5.3 5.62 5.96 6.91
Cash deductions
Property expenses $ 0.00% 4,188 4,443 4,714 5,465
Loan 1
Interest rate % 5 5 5 5 5
Interest payments $ 0 14,067 14,067 14,067 14,067
Principal payments $ 0 0 0 0
Pre-tax cash flow p/a $ 724 1,625 2,581 5,232
Pre-tax cash flow p/w $ 14 31 50 101
Non-cash deductions
Depreciation $ 9,000 6,000 5,000 4,000
Summary
Total deductions $ 28,256 24,511 23,782 23,532
Net profit/loss $ 9,276 4,375 2,419 1,232
Tax refund $ 3,432 1,619 895 456
Land Tax 0 0 0 0
After tax cash flow p/a $ 4,156 3,244 3,476 4,776
After tax cash flow p/w $ 80 62 67 92
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Investment highlights
✦ Invest in an inner-ring Brisbane CBD location.
✦ Save 23% on valuation immediately.
✦ Potentially cash flow positive from day one … after retrieval of initial deposit.
✦ Short project timeframe as building has already commenced.
✦ Most risks in development occur prior to building commencement.
✦ High annualised cash on cash return of 55.3%.
✦ Small apartment block of only 14 (highest demand with lowest supply).
✦ Numerous above-standard fixtures, fittings and finishes.
✦ Most apartments already sold.
✦ Conservative Savills commercial valuations supporting end prices.
✦ Investor can recycle investment into next project … and repeat.
✦ Close to transport.
✦ Location has smart score of 91% meaning solid demographic profile supporting future capital
gains and rental increases.
✦ Rental yields jump from Brisbane average of 3.9% to 6.9% on cost.
✦ High Walk Score of 71% meaning very attractive to tenants and owner-occupiers alike.
✦ 83% score on PSI measured against over 100 investment criteria suggest this investment
should perform relatively very well … while costing the investor nothing to hold.
✦ Capital growth score (DSR BoomScore™) measured across 8 capital growth indicators is
trending upwards meaning demand is beginning to outpace supply in this particular location.
✦ Developer has a strong reputation with lenders.
✦ Major multi-award winning builder with solid financials.
✦ Functional floor plans with larger than average bedroom.
✦ Not available on internet and exclusive only to Hotspotcentral subscribers.
✦ Offered within an ASIC prescribed structure for added protection.
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How to Invest
Please understand that we get a huge response to these offers and they are always oversubscribed.
To give qualified investors a chance we ask that you only request the documentation if you qualify
financially for this offer.
If you qualify we will gladly spend a lot of time helping you make an informed decision. You will find
us and our partners very transparent with all the information.
To obtain a copy of the offers documents, please contact
OR
call 1300 200 340
Shares/Properties will be allocated on a first-in, best dressed basis, with priority given to existing
Hotspotcentral clients.
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