Property syndicate gets hefty return

St Laurence established a direct property investment scheme, Direct Property Investments No 1 Ltd, in 2001 for long-term investment in commercial property.

The Harvey Norman property was purchased for $4.95 million and has received an unconditional offer to sell the building of $8.05 million, above a market valuation of $7.8 million.

Investors can expect to receive a total payment of about $59,000 per $25,000 invested.

The scheme achieved a net operating surplus of $328,638 ($3,572 per $25,000 invested) in the 12 months to March this year.

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