Serviced apartments grow investor appeal

Serviced apartments grow investor appeal
By admin

Accounting and financial advisory firm Crowne Horwath Property has acquired serviced apartment property Quest Albury on behalf of a syndicate of investors as the sector continues to gather momentum.

The deal represents Crowne's first move into the accommodation sector, demonstrating a growing trend for investors to seek opportunities beyond traditional commercial, industrial and retail sectors, according to Quest chairman Paul Constantinou.

"During uncertain financial times, investors are turning away from traditional assets, preferring instead to safeguard their financial future by investing in assets that they can see and understand," he said.

"As an emerging asset class, an investment in a Quest property provides predictable returns, fixed rental income, the security of a long-term lease and no management fees."

The transaction is the result of a search for "stable cash generating and capital growth property investment opportunities", Crowne Horwath Property senior manager, Julie Perry, said.

“We have found that our clients are becoming more astute to the various opportunities in the market. When we provided them with an opportunity to invest in a strong performing but diverse asset style property, the response was overwhelming."

"The interest has also reinforced the local community support for local investment,” She added.

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