AUSTRALIA’S second biggest housing stock, the iconic Perth mansions, have become the first to be sold for a significant profit since the government introduced new restrictions in October last year.
Key points:The four Perth mansures sold for $5.4 million (AAP: James Ashcroft)The property was sold for about $5 million by a company called Third Estate, which was founded by the husband of a former Victorian Premier and the father of two children.
Its founder, Tim, was once the managing director of the WA Chamber of Commerce and a former NSW Labor MP.
“It’s really a unique deal,” Mr Ashcroft told the ABC.
“The property has always been a great asset for us, so we were really excited to be able to sell it.”
The deal was a huge success for the property investor and his business partner, but Mr Ashbridge is confident that the sale will benefit the broader property industry in the long term.
“I think there are people in the industry who are looking at the Perth mansuring as a very lucrative property deal,” he said.
“There are lots of young families who can now get into the property industry and become very wealthy.”‘
Real estate industry has been a victim of its own success’Mr Ashcroft is also confident that new restrictions on the industry’s commercial activities will be rolled back in the future.
“We will be looking at any new restrictions to ensure that they are only there to benefit the industry,” he told the program.
“If you are a business or a company, and you are doing business in the real estate sector, and we are, that is the real problem.”
“We’ve seen in the past how the real property industry has really been a target for discrimination,” he continued.
“They’ve been the target of discrimination, and it has made it difficult for many people to enter the industry and start their careers.”
The Perth mansure sold for around $5million, with the proceeds earmarked for the Perth and Western Australia Chamber of Trade and Industry.
The buyer is a third-generation real estate developer who has lived in the Perth area for over 30 years.
“This is a very positive move,” he commented.
“People in the community have really supported us and wanted to buy the property.”
Topics:housing,industry,family-and-children,housing,state-parliament,perth-6000,wah,vic,australiaFirst posted February 05, 2019 13:59:20Contact Alex DaleyMore stories from Western Australia