Last year I asked for your advice on the Centuria Spring Street fund, and you replied positively. Century is now offering the Wentworth Street fund. Do you think this would be a good fund to invest in?
A: Thanks for the question.
I haven’t had a chance to review the prospectus in detail – so my comments are somewhat preliminary.
While I have huge confidence in Centuria’s capabilities as an manager, I am not a big fan of Parramatta as a precinct.
I note that there is a redevelopment proposal for the area – however if that fails to gain traction, I am not sure there is going to be enough of an increase in the value of the property to cover the transaction costs of the deal.
At this point in time, I will probably be passing on this offer.
