Fedruary update

Good morning CBD Investors

First interest rate cut, now a bit of tax relief for us coming out of the budget speech. The great news was an increased exemption for interest and dividend income with company tax was unchanged.

Our tenants do not seen to have felt the credit crunch yet. Demand has been fantastic so far this year.

Bridgeview – (220 units) was 95% let in just 2 months, it is great to see how the efforts to clean up town are paying off.

Broadway – (140 units) now a little more than 1 year old. Cluster Consultants will be the new building managers taking over from Trafalgar this year. We are looking forward to working alongside them to make this another great building.
A first-class class start to the year with all our units let, we have had our team sort out a few maintenance items, shower doors and cupboard door wheels being the most common. A happy tenant is a paying tenant.

Madison – ( 67 units) Black & White properties have replaced Trafalgar as the building managers. Fully tell and still in very good shape.

Liberty – (120 units) is in good running order, Trafalgar just need to keep an eye on the levies arrears that seem to be a little high.

Time Square – (82 units) is well run with trustees that are keeping looked after.

100 Jorissen – (163 units) seems to be having a bit of a tough time coming right, with overcrowding becoming more noticeable. Overcrowding poses the biggest risk to CBD property. Overcrowding portrays a lack of management and interest that then filters down to the residence of the building, we are to have a chat with management to find out if they are aware of the problems.


2009 will be an interesting year with some investors sitting tight for now and some investors getting ready to start looking at new opportunities again.

We should all take a step back and put a little time into our portfolios; check up on body corporate, see that our banks are giving us the best rate, reduction costs and improving our systems to take the worries out of property.