SMS STRATA SWIMS UPSTREAM
Media Release - 5 October 2011
On the back of robust ‘dwelling approval’ figures released yesterday from the Australian Bureau of Statistics, Coffs Harbour-based SMS Strata Management Services announced its own investment in the sector by acquiring North Coast Strata Management for an undisclosed six figure sum.
A large concern, SMS Strata Management Services now manages 650 properties and serves 4500 clients in the Coffs Harbour area alone.
Colin Dennis, CEO of the new SMS Strata Management Group said, “This represents a significant investment in the Coffs Harbour economy and a strategic growth phase for the Group. We are encouraged to see that the health of the Australian building industry is lifting,” Colin said.
ABS Building Approvals show that the number of dwellings approved rose 11.4% in August (latest figures) from a rise of only 1.8% in July. These figures are seasonally adjusted. NSW took out the lion’s share of approvals at 45.2%, more than double that of nearest rival Queensland.
“Property is a huge engine for our economy, in terms of employment, investment levels and building and maintenance activity. Australians have a tradition of investment in bricks and mortar and it remains a viable long term investment, particularly in this State,” Colin said.
“What I see in our business is that rental returns are high. Housing demands will continue to increase with our growing population. Housing affordability is also remaining stable, which is encouraging.
“With the acquisition of North Coast Strata Management, we’re increasing our staff numbers, our clients and our portfolio. What we will also increase is customer satisfaction. Bigger IS better in this case. We can offer more streamlined systems, better customer response times and the application of new technologies to the clients we serve.
“After two decades, we are now one of this country’s foremost independently-owned strata management companies, with over $8 million in trust funds,” Colin said.
SMS Strata Management Group has completed due diligence and formally advised all clients and key stakeholders of the change in its business structure.
Media Enquiries: Colin Dennis
Chief Executive Officer/Director
02 6652 1078
0419 462 080