Hi Steven1459,
I am one of the property JV baggers.
Sold 1 of 5 at budget. Let’s see if this was to a genuine third party. Who knows if the budget price is at a decent margin. Again for Malvern let’s see if these are genuine third party sales at a decent margin.
We will only know if the JV is working when all of the properties have sold.
My overriding problem is that Grange has far more lucrative opportunities than property development at the the top end when the top end market is stalling and prices are going backwards.
The new acronym in property circles is FOOP. Fear of Over Paying.
Cheers.....Daicosisgod
Ann: GRR - Quarterly Report for 3 months ended 30 September 2018, page-12
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