Yellow Brick Road's executive chairman is set on tripling the company's wealth income by 2020... Mirvac targets northern Sydney suburb with its next major development...
Bouris aiming for $100b loan book by 2020
Yellow Brick Road executive chairman, Mark Bouris says now is the time to take marketshare from banks to reach a $100 billion loan book by 2020, according to the Sydney Morning Herald.
Bouris said he made the decision last year to focus on topline growth, rather than the bottomline, while banks were raising interest rates independent of the Reserve Bank.
"Right now the banks are all looking for margin," Bouris said. "So we are saying you go for margin, we're going to take market share from you. So we are investing in this market. You have to have big balls to do that, but that's what we did."
At its half-year results tomorrow YBR will announce its two most senior executives who were selling multiple products under separate brands, including YBR and mortgage aggregator and financial planner Vow Financial, which it bought in 2014, would take charge of loans and wealth separately.
Mirvac targets North Shore suburb with its next major development
One of Australia’s major residential developers believes a northern Sydney suburb better known for its office space has the fundamentals in place to become a flourishing residential market.
Developer Mirvac is banking that transport infrastructure, healthcare facilities, schooling options and lifestyle factors will make its first venture north of the Sydney Harbour Bridge in more than a two years a successful one.
Mirvac last week unveiled plans for the St Leonards Square development that will see two apartment towers standing 28 and 38 storeys replace the existing commercial buildings at 472-486 Princes Highway St Leonards.
Stage one of the project, which will feature a total of 500 apartments, will be launched in March and Mirvac development director – apartments Adrian Checchin said the developer is expecting strong interest from buyers across all sectors.
“To date we’ve had really strong interest in the project. The data we’ve got from our VIP client base is very encouraging and I don’t think we’ll struggle to find buyers,” Checchin said.
“We see buyers being a combination of owner-occupiers and investors. For the home owners, it’s a great chance to find a place to live that is pretty close to the Sydney CBD, while we think there are the fundamentals here in St Leonards that will make it attractive to investors,” he said.
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Yellow Brick Road executive chairman, Mark Bouris says now is the time to take marketshare from banks to reach a $100 billion loan book by 2020, according to the Sydney Morning Herald.
Bouris said he made the decision last year to focus on topline growth, rather than the bottomline, while banks were raising interest rates independent of the Reserve Bank.
"Right now the banks are all looking for margin," Bouris said. "So we are saying you go for margin, we're going to take market share from you. So we are investing in this market. You have to have big balls to do that, but that's what we did."
At its half-year results tomorrow YBR will announce its two most senior executives who were selling multiple products under separate brands, including YBR and mortgage aggregator and financial planner Vow Financial, which it bought in 2014, would take charge of loans and wealth separately.
Mirvac targets North Shore suburb with its next major development
One of Australia’s major residential developers believes a northern Sydney suburb better known for its office space has the fundamentals in place to become a flourishing residential market.
Developer Mirvac is banking that transport infrastructure, healthcare facilities, schooling options and lifestyle factors will make its first venture north of the Sydney Harbour Bridge in more than a two years a successful one.
Mirvac last week unveiled plans for the St Leonards Square development that will see two apartment towers standing 28 and 38 storeys replace the existing commercial buildings at 472-486 Princes Highway St Leonards.
Stage one of the project, which will feature a total of 500 apartments, will be launched in March and Mirvac development director – apartments Adrian Checchin said the developer is expecting strong interest from buyers across all sectors.
“To date we’ve had really strong interest in the project. The data we’ve got from our VIP client base is very encouraging and I don’t think we’ll struggle to find buyers,” Checchin said.
“We see buyers being a combination of owner-occupiers and investors. For the home owners, it’s a great chance to find a place to live that is pretty close to the Sydney CBD, while we think there are the fundamentals here in St Leonards that will make it attractive to investors,” he said.
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