Thanks Geoffro. Always good to get feedback from someone who has seen and experienced the asset.
Where does the development potential come from from this asset ? Is there a lot of underutilised land / sites or something else ?
One of the issues with buying flagship properties with great management in a competitive auction is that you pay a full price and there is less scope for making improvement (due to good existing management). I presume that the way they beat the big boys to the property was that they put more money on the table ?
Not saying it is a bad purchase but am interested how they generate extra value out or any already good asset.
Thanks Geoffro. Always good to get feedback from someone who has...
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