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Seeking to combat a shortage of public housing, Lawrence Bowtell and the team lobbied the State and Federal Government for the introduction of long-term leasing.
After an exhaustive Tender, Metro Property Consultants were mandated by the Victorian Ministry of Housing to develop Victoria’s first residential properties on a long term lease.
Lawrence and the team structured all aspects of this highly innovative program from the key commercial risk allocation parameters to the purchase of the subject sites from the Ministry of Housing.
The team developed two sites on behalf of the Ministry; one in Braybrook and one in Heidelberg Heights. Both projects were highly successful, being leased to the Victorian Government at an opening yield of 6.5% for 15 years (with a 15-year option).
Investors from all around Australia snapped up these sites unseen.
These projects have been a stunning success at an operational level. Audits by the Victorian Government confirmed that tenants at both complexes do not consider themselves public housing tenants in the “traditional” sense.
The private ownership of all dwellings has greatly reduced the stigma of public housing; translating to both happier tenants and more satisfied investors.
Website Designed and Developed by
Seeking to combat a shortage of public housing, Lawrence Bowtell and the team lobbied the State and Federal Government for the introduction of long-term leasing.
After an exhaustive Tender, Metro Property Consultants were mandated by the Victorian Ministry of Housing to develop Victoria’s first residential properties on a long term lease.
Lawrence and the team structured all aspects of this highly innovative program from the key commercial risk allocation parameters to the purchase of the subject sites from the Ministry of Housing.
The team developed two sites on behalf of the Ministry; one in Braybrook and one in Heidelberg Heights. Both projects were highly successful, being leased to the Victorian Government at an opening yield of 6.5% for 15 years (with a 15-year option).
Investors from all around Australia snapped up these sites unseen.
These projects have been a stunning success at an operational level. Audits by the Victorian Government confirmed that tenants at both complexes do not consider themselves public housing tenants in the “traditional” sense.
The private ownership of all dwellings has greatly reduced the stigma of public housing; translating to both happier tenants and more satisfied investors.
