Page 85 - Tropic Magazine Issue 13

TROPIC • OPINION

Ranjit Singh
Partner
Holding Redlich

Funds in the tropical sun

I’ve just returned from the 2018 Property Congress in
Darwin, the major annual event hosted by the Property
Council of Australia. I attended with a 10-strong contingent
of my colleagues from Holding Redlich, and we found it to
be an insightful gathering. As the leading property gathering
of its type in Australia, it attracts participation from thought
leaders in the fields of design, planning, engineering,
construction, development and law. The managing directors offer. In many cases, such returns are greater than those in
and CEO’s from major firms such as Stockland, Mirvac, and other centres. I believe Cairns can present an opportunity for a
CBUS all gazed into their crystal ball to predict what lies new level of institutional investor to acquire (the right) assets
ahead for the nation’s property market. in our city.
GOOD NEWS At Holding Redlich, we act for some of the largest funds in
Let’s start with the good news: I was overwhelmed by the the country. Over the coming days, weeks and months, I hope
number of attendees at the conference who had an acute to be able to present local opportunities across our network
awareness of what was happening in Cairns. Projects such of offices in Brisbane, Sydney and Melbourne to see what
as the Queensland Government’s Global Tourism Hub, GA interest can be spiked.
Group’s Crystalbrook Collection hotel developments and NOT SO GOOD NEWS
World Class Global’s Nova City towers were surprisingly Now for the not so good news: industry concerns regarding
familiar topics to many people I spoke to. There was also an the availability of financial products for the investor market
appreciation of the appeal of our buoyant tourism industry, will continue to weigh heavily on the largest players in the
and people were keen to either visit Cairns to see what was property market in 2019. There were also concerns raised (as
happening on the ground or reminiscence about the great I’m sure most Australians have lately) as to whether we will see
experience they had on a recent trip here. an Australian Prime Minister last a full term.
BETTER NEWS CONFIDENCE
Here’s even better news: there is growing pressure on As business owners, we can react to the scaremongering of
Australian super and private equity funds from large bad news or take a positive approach and continue to look for
overseas funds. Funds from the United States and Europe opportunities. Judging by the view from the Holding Redlich
are cashed up and have an eye on assets in Sydney, office at the Cairns Corporate Tower, where we have an
Melbourne and Brisbane. What does this mean? Australian uninterrupted view of the six cranes on the skyline, it’s hard
funds will have to look to regional cities across the nation not to be empowered by the confidence from the hundreds of
for investment opportunities. Whilst places such as Cairns millions of dollars of investment under way in our city.
may not have had the capital growth of the metropolitan
capitals, there are excellent rental yields and returns on MORE: holdingredlich.com.au

Shaun The changing of the guard, however, extends further than just
Donaldson Crystalbrook’s massive investment in the city. We have seen
Director large corporations make significant investment in tourism
(Experience Co. and Intercity) and significant investment in
Halpin Partners
agriculture (Costa’s and Macquarie on the Tablelands). Add to
this mix the planned Nova City development which will provide
Changing of the guard more high-quality accommodation in the city centre. Locally,
we are seeing investment in hospitality (Hemingway’s and The
A recent visit by some mates from out of town caused me to Chambers). I am also seeing investment at a small and medium
pause and reflect on what’s happening in Cairns. There is a real business level in many industries. On top of this, we are set to
changing of the guard happening right now which is exciting for welcome significant government investment in our port, roads
our future. and Convention Centre.

Welcoming the GA Group and Crystalbrook Collection to Cairns Sometimes when you are in the hustle and bustle of everyday
is massive for the region. The injection that the construction life you don’t fully appreciate these changes, that take time to
of the hotel towers has provided for Cairns cannot be under- materialise. My mates couldn’t believe what was happening in
estimated. Similarly, the injection of high-quality accommodation Cairns and were excited about the future. After considering
supply to the local market will provide a massive tourism boost. I everything that is happening right now, it’s hard not to be.
cannot wait for Crystalbrook’s first hotel Riley to open its doors.
Welcome to Cairns! MORE: halpinpartners.com.au

85 • tropicnow.com.au