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Re: [sharechat] Omaha beach up date by macdunk


From: James Pullen <james@embedded.co.nz>
Date: Fri, 30 Jan 2004 15:06:36 +1300


Looking at HQP's FY to 30/06/2003 report, they had sold $74.65m of Omaha 
sections even then.  If six months later they've only added another 1.5m or 
so, I'm not expecting a huge jump in revenue just from Omaha. Of course, 
your real estate chap may have got his numbers wrong (hopefully).

Disc: hold HQP


At 02:24 p.m. 29/01/2004, you wrote:
>I visited this subdivision to keep up to date with the FA of hqp.
>The subdivision covers a very large area by memory 146 hectares flat to 
>slightly sloping with very little earthworks required to landscape.    the 
>roads kerbs footpaths and services are all completed .         The 
>sections are clearly marked with small sold signs on each one.    I drove 
>up and down at least twelve streets searching for a section that was still 
>for sale without luck.
>Hundreds of sections the very cheapest one costs $220000 I was told 
>later.  The real estate office was closed, so I called Into the first 
>mreInz office on the way back to go over the building covenants, plus get 
>more Info on how well It was selling.
>The agent told me { exact words not to be taken as gospel}.    He said 
>:fourteen sections left on this stage so far they have sold 76 million 
>dollars worth".       I  asked how much did the greedy buggers pay for It 
>In the first place he said 17 million.
>I was told one stage left to go, a smaller more high density living style 
>suburb.
>The covenants are the strictest covenants that I have ever encountered, a 
>five thousand dollar bond for starters, with two sets of plans submitted 
>for approval before being allowed to apply to council for a building 
>permit.  About twenty pages In all to comply with.
>Then even when you sell, the covenants are stuck to the title for perpetuity.
>My own opinion Is they are getting double what was expected, selling at 
>the top of a building boom after buying at the bottom.
>That Is my last post on this company promise, but expect a I told you so 
>In six months time.
>I sold out on AIA, I chickened out If you will excuse the pun, I need 
>Ideas on a new company to replace It.
>Any one done the homework on fishing companies?. Fish export potential Is 
>on the rise with this chicken scare.
>                                                            cheers macdunk
>



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