Steve, I’ve often looked at what ADF were offering but considered the whole thing too expensive. I was looking for something which was more closely positively geared and would pay for itself or nearly so.
When I saw the news about Westpac, the first question I asked myself was what price did they pay for it to be worthwhile as an investment proposition. Must have been a lot better than most of us were being offered. Seems to me that ADF just could’nt offload these houses onto the investment market to one-off buyers simply because the returns were not there. I say to Westpac, “Good luck” Im sure they know what they’re doing.[hope so]. I guess $100M speaks a different language?