Port St. George
Since securing the site in 2005 the developer has sought to minimise the risks associated with the development of Port St George by minimising those risks. In addition to securing the consents required for the development close attention has also been paid to robust financial planning.
No External Debt
All costs of site acquisition and permitting incurred to date have been met from the developer's own resources with no recourse whatsoever to external debt. This debt free position allowed the Port St George project to emerge unscathed from the financial turmoil of 2008/09.
The value of the Port St George site has been substantially enhanced by the consents which have now been granted for the Port St George development.
Proven Market and Right To Buy Agreements
The developer's sales team has been actively marketing residential building plots at Stella Maris, Long Island since 2006. Almost 300 sales have been completed, mainly to European buyers, many of them high profile sporting personalities from the worlds of golf, rugby, cricket and football.
This has provided proof that there is substantial international appetite for Long Island real estate..... continued on next page.