Mayfair 101 launches latest bond focused on Qld resort

mayfair 101 real estate property covid-19 coronavirus ASIC

23 April 2020
| By Laura Dew |
image
image
expand image

Troubled property investment firm Mayfair 101 has launched its next strategy, a fixed income property bond investing in a Queensland tourist resort, highlighting domestic travel will be popular given the COVID-19 restrictions.

Mayfair Australian Property Bond would be targeted at wholesale investors who were seeking an investment supported by first registered mortgages. It would offer ‘competitive fixed rates’ in exchange for first mortgage security over properties Mayfair 101 owns in Mission Beach, Queensland.

For a minimum investment of $250,000, investors would have the opportunity to earn a fixed monthly income of 4.25% to 9.2%.

The firm was subject to a restraining order from the Federal Court this week, restricting it from promoting debenture products or using specific words or phrases in advertising. This followed an application by the Australian Securities and Investments Commission (ASIC) for false and deceptive conduct.

Mayfair said this was the “first opportunity” for Australian investors to take part in the firm’s plan to turn Mission Beach into an Australian “tourism mecca” and that it planned to invest $1.6 billion in the area.

Investors would be able to choose between residential, commercial, land or rural properties for one to 10 year terms, and could view these in person or via Google Earth.

“The bond is the first opportunity Australian investors will have to be part of the group’s plan to turn Mission Beach and Dunk Island into an Australian tourism mecca,” it said.

“With COVID-19 likely to limit overseas travel for some time, there is no better time to support the local economy while earning a competitive return on your idle money.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

1 month 1 week ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month 2 weeks ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month 3 weeks ago

SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positiv...

3 days 11 hours ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

3 weeks 6 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

3 weeks 2 days ago

TOP PERFORMING FUNDS