Maybe I'm missing something, but $7m a pop on ave for something that is little more than a glorified house...seems very expensive to me. In some cases its a block of land with a DA - no building at all. I mean Murrumba Downs for $9.5m? You could buy 20 houses for that or 10 mansions each on an acre. The price just seems waaay over the top. The price may be a "discount to valuation" (based on a commercial return) but seriously if ARF can't build a 500m2 tilt slab building for under $6m there is something seriously wrong with the Board's ability. Someone's getting rich here but it isn't the shareholders.
ARF Price at posting:
$2.09 Sentiment: Hold Disclosure: Held
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