)
HARRY Triguboff has reached a new milestone with his property investment portfolio by breaching 3,000 apartments.
The 3,066 apartments, all in Sydney, have been accumulated over 15 years by the Meriton group founder and owner and are worth more than $3 billion.
Triguboff, last year ranked as Australia's richest person with a $10.62 billion fortune, is expected to add hundreds more residential apartments to his holdings this year.
Victor Toscano, Meriton's head of residential leasing, says the vacancy rate for the 6,000-plus apartments' rent roll is 0.06 per cent.
The Triguboff-owned apartments produced income of $79.57 million in the 201516 year.
"A lot have been added to Triguboff's portfolio since June 30, so the income figure is expected to top $100 million in the latest financial year," says Toscano.
"He's extremely comfortable when it comes to keeping apartments because his company has built the blocks and knows everything about them.
"He's always insisted, be it for his own apartments or for those that are sold, that each building has a dedicated onsite manager."
The holdings often involved whole buildings, such as Mascot Central.
"The first big block that was retained was at Bondi Junction, where the 305 apartments have since been converted to serviced apartments."
Business News Australia
)
