Sunday, March 9, 2008

Skyline - How much is unsold?

From Ariadne's report to the ASX dated 27 February 2008:

The 192 unit Skyline project was completed in October 2007. As at 31 December 2007, the project was 65% settled. Currently, 24 units remain to be sold.

Ariadne expects a degree of volatility in the SEQ property market over the next 12 months.

(On 13 November 2007, Ariadne reported that the Skyline project was 80% sold and that settlement was expected on the week starting 26 November 2007.)

Why, if it was 80% sold as at November, was it only 65% settled as at the end of December? Did 15% of the sales fail to settle? Or are these insider sales with delayed settlement?

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