Blackwater - risk or bargain?
MIXED messages about the opportunities on the Central Highland's
Thursday 06 October 2016
On the same day that NAB chief Andrew Thorburn told an enquiry in Canberra that Blackwater, Middlemount, Dysart, Moranbah, Mackay, Emerald and Gladstone are high-risk towns that they're very cautious about lending in, Chief Marketing Officer with Sentinel Property Group Michael Sherlock says there's never been a better time to invest.
The NAB classifies towns like Blackwater as "group A restricted postcodes where significant deterioration in credit risk has been observed".
It has introduced a cap of 70% on loan-to-valuation ratios for new lending - meaning new borrowers in Blackwater will need to pull together a deposit of at least 30%.
However, Mr Sherlock who will be a special guest speaker at this month’s Central Highlands Investing in our Future Conference in Emerald, has challenged this assessment.
His employer, the Sentinel Property Group, purchased the Emerald Village and Emerald Plaza shopping centres in late 2014, and Mr Sherlock says businesses have to be brave in a flat economy.
“You’ve got to be counter-cyclical in business,” he said.
“Emerald is on the uptick of the cycle; it’s been through the worst time but it’s on the increase so now is the time to invest, not when the market is reaching a peak, and it’s fully priced.”
Mr Sherlock’s will be presenting as part of the Investing in our Future Conference in Emerald on the 25th & 26th of October.
The conference aims to bring together speakers and stakeholders to provide information on current and future initiatives; development and investment opportunities in the Central Highlands.