Chapter 70: Building Site Purchase

During lunch Helena asked Fred “Interested in some building development?” Fred looked at Helena puzzled. We need to see Andrew and Zac, in that order. They finished lunch and called upon Andrew.

Helena asked “What happened to that Brisbane development that we needed to rush to?”

Andrew replied “No further news. Nothing has come of it.”
Helena requested “What is the address of the properties and development name please?”

Andrew passed these on. They left to see Zac. He was actually in his office. Helena advised him of what occurred before their wedding and asked him to find out what is happening to the block. Zac looked happy “Good some real estate finding, I’ll let you know.” They left Zac to his duties.

Walking along Griffith Street Fred asked “OK What is going on in that lovely mind of yours? You are planning or investigating something darling.”

Walking into a coffee shop at the Calypso, Helena replied “Well we have 4 building on that block and they would not be a good investment with the rest of the block in ruins. They have not been back to us, so I just thought I would follow up!” Helena completely aware what happened to Franco.

They finished their coffee and was walking back to their unit when Zac rang. As they were a minute away Helena mentioned they would call in.

In Zac’s office he advised “The site is for sale for $200m. Without your four building they could not do their development. They have a building across the road for $90m as well. The trouble is no one is interested due to the previous owner, who died but was very well known to police.”

Helena smiled, looking at Fred and Zac asked “Tell them you have an offer for $180m, not subject to finance, for both office building and development site, settlement within 30 days. See what they come back with, You can go up to $220m but not any more. They will push for more but hang up and be stubborn on a maximum of $220m This will give you boys something to do if we get it, Developing the site for a high rise with a good income stream for future growth. Interested guys?”

They both smiled. “I’m going to see Jane, Fred do you want to come or stay with Zac?”

Fred replied “I’ll like to stay with Zac please.”

Helena left the guys alone. Walking to see Jane, Helena was admitted straight to the board room. Jane came in after a few minutes after seeing her client. Jane asked “And what do I have the pleasure of your company for Helena?” Smiling. She sat down.

“I have the guys looking into getting that development Franco wanted our buildings for. I am getting them to squeeze the price down to $220m. It does include the building we went to as well. My idea is to move the current tenants into that building, demolish the lot, install underground parking, three/four story shopping and as much office space as possible with a lot of green energy as we can muster. Parking in the city brings in a premium price, That end of town needs some fashion shops, we will offer a good rental, not premium, for stand alone shops not the retail fashion chains. If they want in they pay premium. Market it as an elite clientele. I’ll fund what I can and get any assistance from funding in Vanuatu. Interested in helping and doing the lawyer paper side with Ben?” Helena replied.

Jane sat back. “Wow, you like the complete package, It sounds good. Yes, I would like to be involved with Ben and Andrew for his financial information. Have you spoke to Andrew yet?”

“Yes and No. I asked him today if he had heard back from Franco, he has not. But not about what I just talked to you about. I feel he would love to get his teeth into this but first I need to know if Zac can get the site.” Helena mobile rang, it was Zac.

Zac stated “Yes we can have the lot, debt free for $210m. The office building is currently 80% vacant. Is Ben doing the legal?”

Helena replied “No get Jane, I with her now. I’ll inform Andrew” Signalling to Jane to get Andrew here “If you two want to come down, bring Ben and Suzanne, I be in the board room with Jane and Andrew.” Jane rang Andrew.

Zac replied “On our way”

Suzanne collected some coffee for Helena and the crew. Within 10 minutes they had assembled in Jane’s boardroom.

Helena started “Well guys, welcome to a new corporation/business whatever, you legal eagles will work that out. Just to bring everyone up to speed. I had a thought. We had not heard from Franco about our Brisbane properties, so I got Zac to find out what’s happening. He informed me Franco had died and the lot was for sale including the building we went to.” Sipping her coffee “Zac had managed to arrange purchase of all the sites for $210m. Yes Andrew I will need some funds from my account to pay within 30 days. Ben/Jane will handle legal. Andrew/Fred will handle finance. Basically as I mentioned to Jane, my idea is to move the current tenants into that building, demolish the lot, install underground parking, three to four story shopping and as much office space as possible with a lot of green energy as we can muster. Parking in the city brings in a premium price, That end of town needs some quality fashion shops, we will offer a good rental, not premium, for stand alone shops not the retail fashion chains. If they want in they pay premium. Market it as an elite clientele. I know I am moving from my aim in assisting, but we need income to do our other role. This project will achieve that aim. Now first question interested? Yes or No”

They all replied Yes and all looked happy being involved.

“OK. Jane/Ben This group here are the directors. Land /rentals dealing go through Zac. Jane/Andrew put $15m into the operations account for development/legal/government fees etc. Suzanne and/or I must meet anyone involved with the development including architects, council, developers etc, etc. Signing of accounts any two by Fred, Suzanne, Ben, Andrew and Jane. Now any other questions?” Helena asked.