He’s jumped from rugby league to reality television and now, it would seem, real estate.
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Paul ‘The Chief’ Harragon is trying his hand at property investment, as the managing director of new firm Boss Private Capital.
The former Knights and Kangaroos captain told Domain it was a natural next step after spending the last five years investing full time.
“During that process I came to be introduced to Jon Simpson, who owns the Treelight Development Group. The bottom line was he was doing some really ahead of trend development and I recognised there was a niche in there for a capital raising partner.”
He said one of the pillars of the firm would be focusing on investments that were ‘defensive’ – or able to withstand turbulent economic periods.
“The thing I like about Treelight is they’ve moved very aggressively into the medical space. Irrespective of tough economic times, the medical sector is always a good place to be when it comes to property.”
The company’s website lists a portfolio of nine projects across the country, with a 28-townhouse development at Elermore Vale already fully subscribed.
Harragon said he would only put his name to a venture if he was certain it was the “right concept at the right time”. The business was a chance to give ordinary mum-and-dad investors the chance to be part of projects that would usually go to larger private offices and trusts, he said.
“Through Boss Private Capital I personally get access to those opportunities to invest as an equity player that other people don’t normally get the opportunity to be involved with,” he said.
SITES RIPE FOR DEVELOPMENT
Vendors are cashing in on Newcastle’s unit boom, with amalgamated sites poised to reap millions at Wickham and Broadmeadow.
At 22-26 Bishopsgate Street in Wickham, three small properties are being sold together as a 738 square-metre lot. It is expected to fetch between $2.7 and $2.9 million.
Mixed-use zoning would allow buildings up to 24 metres high on the parcel, which is about 100 metres from the Newcastle Interchange.
Agent Peter Neskovski of Street Property Group said he had received around 75 inquiries on the listing in less than a fortnight.
At Broadmeadow, four owners have received $2.59 million for a superlot on Brunker and Koree Roads.
The property was sold by Chris Rousos of Your Agency.
The high density zoning will permit the buyer – a local developer – to build up to 14 metres high.
