Posted July 6, 2016
Body Corporate · Buying & Investing · Laws & Regulations

FIRB a Four Letter Word…?

FIRB a Four Letter Word…?

The Australian residential market, for apartments in particular, is at an interesting juncture with most debt that was available for foreign purchasers having withdrawn from market.This withdrawal coincides with unprecedented forecast levels of development completion over the next 24 months – with our analysis indicating approx 86,000 apartments being delivered in 2017 up from 49,000 in 2016.

Out of this completion, we estimate approx $12 billion in FIRB sales needing to settle in 2016 and more than $14 billion in 2017.

We have been interested to already see an increase in inquiry from developers for finance of residual development stock (FIRB).

Stamford has access to competitively priced capital that has appetite to finance completed residential stock to:

1. Allow developers to clear their construction debt; and
2. Release equity tied up in completed assets for future acquisitions.

We would welcome the opportunity to speak with any client about refinancing any residual stock or any property finance need in general.

Domenic Lo Surdo can be contacted on (02) 9046 8902 should you have any about development financing.

Written by
Change Body Corporate
The contents of this article or website are only intended to provide a general overview of the topics discussed. The author of this article makes no representations as to the accuracy or completeness of any information and the information is not intended to constitute investment, legal or professional advice. You should seek professional advice before acting or relying on any of the content. This article does not contain references to any specific company, organisation or individual, unless expressly specified.
Still looking for answers your manager should be giving you?
We help Committees of 10+ lot buildings who are tired of being left in the dark. Tell us what’s going on, and we’ll help you move forward.

    Please note: Our services are exclusively for Committees of buildings with 10 lots or more.

    Body Corporate
    A close-up, angled shot down a long, dark wood table during a meeting or workshop. In the immediate foreground, a person's hands are in sharp focus; one hand holds a silver pen, taking notes on a yellow legal pad. Further down the left side of the table, three other participants sit in a row, slightly blurred due to a shallow depth of field. Across the table, another person's hands rest near an open spiral notebook. Bright, natural sunlight streams in from a window behind the group, illuminating the tabletop and creating a warm, collaborative atmosphere.
    May 24, 2015 — Body Corporate · Buying & Investing · Laws & Regulations

    Understanding Owners Corporation Insurance

    Owners corporation insurance is the cover arranged by an owners corporation to protect the building and common property it’s responsible for. For Melbourne Committees, this is a legal requirement under…

    selective focus photography of three books beside opened notebook
    Jun 20, 2018 — Body Corporate · Buying & Investing · Laws & Regulations

    Which Prevails – The Body Corporate Rules or the Planning Permit Conditions?

    The Supreme Court has determined a case, Elwick 9 Pty Ltd v Freeman [2018] VSC 234, which examined the question of whether body corporate rules…

    short-term letting body corporate
    Nov 8, 2019 — Body Corporate · Buying & Investing · Laws & Regulations

    Can Your Body Corporate Ban Short-Term Letting? 50,000 QLD Owners Need Answers

    Short-term Letting Body Corporates: Clearing Up the Confusion Recent media coverage of a Queensland court decision regarding short-term letting in a body corporate has caused…

    The Developer Appointed Management Company Not Providing Service
    Sep 26, 2019 — Body Corporate · Buying & Investing · Laws & Regulations

    The Hidden Risks of Developer-Appointed Management and How to Fix Them

    We helped this body corporate save $16,341 per annum in body corporate management costs! In March ’17 we spoke with the Chair of a high-rise tower in Melbourne’s inner north.

    Buying & Investing
    text
    Mar 31, 2020 — Body Corporate · Buying & Investing · Laws & Regulations

    Your Guide to Strata Cash Flows During a Pandemic

    This guide is to help strata owners and managers deal with the important cash flow decisions that will arise during the Coronavirus pandemic and its aftermath. We cover what to…

    black electric pylon under orange clouds during daytime
    Jul 29, 2020 — Body Corporate · Buying & Investing · Laws & Regulations

    Cheaper energy bills coming to Victorians living in apartments

    Good news! If you live in Victoria and your energy is supplied through an embedded network—like in some apartments, caravan parks, or retirement villages—you can…

    person holding on red pen while writing on book
    Jun 21, 2016 — Body Corporate · Buying & Investing · Laws & Regulations

    Taxation Ruling Tr 2015/3 – Matters Relating To Strata Title Bodies

    On Wednesday 25 November 2015, The Australian Taxation Office issued Taxation Ruling TR 2015/3 which finalised Draft Taxation Ruling TR 2015/D1 (issued 27 March, 2015). As noted in our summary…

    stack of books on table
    Sep 3, 2015 — Body Corporate · Buying & Investing · Laws & Regulations

    What is a Strata Title Lot? 117sqm Concrete Wall Sells for $3.04m

    117 Square Metre Wall Sells for $3.04m Earlier this month a 117-square-metre concrete wall sold for $3.04 million – this wouldn’t have been possible it wasn’t a separate Strata…

    Laws & Regulations
    An abstract close-up of a textured surface painted with high-contrast, diagonal hazard stripes. The pattern features alternating bands of bold, saturated yellow and matte black. The stripes shift directions across vertical seams, creating a dynamic, geometric chevron and zigzag effect. The texture of the underlying material, resembling painted concrete or metal, is subtly visible beneath the clean, sharp lines.
    Mar 2, 2016 — Body Corporate · Buying & Investing · Laws & Regulations

    The Perils of Applying the Benefit Principle Under the Owners Corporation Act

    Building defects rarely arrive as a simple maintenance issue. Once a defect is found in common property, the conversation can quickly shift from “what needs to be repaired?” to “who…

    Body Corporate Amendment Bill
    Oct 1, 2019 — Body Corporate · Buying & Investing · Laws & Regulations

    Body Corporate Amendment Bill: A Mixed Bag for Victorian Apartment Owners

    The long-awaited Body Corporate (Owners Corporation) Amendment Bill has been introduced into parliament. The most significant change, and one we had been advocating for, is the creation of tiers of…

    brown and white wooden house near green trees during daytime
    Oct 13, 2020 — Body Corporate · Buying & Investing · Laws & Regulations

    The Cladding Safety Victoria Bill 2020 Provides Owners Relief but Set to Retrospectively Increase the Building Industry’s Liability

    The Victorian Parliament has recently introduced a bill to establish a new governing body to oversee the cladding rectification program for residential and public buildings. This bill also aims to…

    white concrete building under blue sky during daytime
    Feb 19, 2020 — Body Corporate · Buying & Investing · Laws & Regulations

    Body Corporate SP22776 v Lunn [2019] VCAT 2057 (23 December 2019)

    This case illustrates that courts and tribunals will, in certain circumstances, order lot owners to reinstate works undertaken by them that breach the Model Rules of the body corporate. Background…