News & Media

Sustainable Development Press Release

Market Still Looking for Sustained Value

In a retracting market CYRE finds property investors still receptive to quality assets.

Sydney, Australia (April 2009)–CYRE announced the sale of one of its quality property asset for a 5.8% yield. The property was originally purchased by CYRE as a 300M2, abandoned and derelict tructure. CYRE refurbished the property to an “A” grade, commercial facility. The building is now occupied by long-term, “A” grade tenants and owner occupiers.

CYRE was confident that its life cycle engineering process could produce an asset that would defy the local market trends. The Company achieved a sale that, prior to this development, was believed impossible in that area.

“This sale demonstrates that there is still money for quality assets with quality tenants. We felt that both investors and tenants would recognize the value of an “A” grade premises. Our marketing assumptions proved correct and we are really pleased with this outcome” said Mark Sweeney, Director of CYRE.

Peter Arnold, CYRE’s Investment Partner with this development commented by saying, “deposit rates have fallen from 7-8% to half that now, investors are looking for risk adverse strategies, such as property for sources of income.”

Media contact: Mark Sweeney 0425 344 414
You can visit CYRE’s website at: http://www.cyre.com.au