This article is from the Australian Property Journal archive
DEVELOPER Harry Triguboff revealed his personal property investment portfolio has smashed the 3,000 apartments ceiling, potentially making him Australia’s largest private landlord.
The Meriton boss said in the past 15 years he has amassed 3,066 apartments, which are estimated to be worth in excess of $3 billion.
Triguboff’s personal portfolio does not include the 4,500 serviced apartments owned by his company Meriton.
In addition, Meriton also manages over 3,000 apartments on behalf of private investors.
Triguboff who is Australia’s richest person with a personal fortune of $10.62 billion said he is expecting to add hundreds more residential apartments to his holdings this year.
Meriton’s head of residential leasing Victor Toscano said the Triguboff‐owned apartments produced income of $79.57 million in the 2015‐16 year.
“A lot have been added to Mr Triguboff’s portfolio since June 30 so the income figure’s expected to top $100 million in the latest financial year.
“Mr Triguboff is capitalising on an ever‐stronger rental market for brand new apartments in Sydney, which he regards as one of the greatest cities in the world,” he added.
Toscano said Triguboff’s holdings were spread across 11 Meriton projects and were in the suburbs of Chatswood, Lane Cove, Chiswick, Rhodes, North Sydney, Waterloo, Zetland and Mascot.
He said the holdings often involved whole buildings, as was the case at Mascot Central.
“When Mascot was completed early last year, a building with 205 apartments was retained and put into the leasing pool. The first big block that was retained was at Bondi Junction, where the 305 apartments have since been converted to serviced apartments,” he continued.
In addition to his personal portfolio, Triguboff is also the owner of Meriton, Australia’s biggest owner of hotels, with 17 properties with a total of 4,469 serviced apartments in Sydney, Brisbane and the Gold Coast.
Australian Property Journal
