"Current independent valuation of $650,000 for the completed project..."

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Valuation

The following is information from a valuation report supplied by Leigh Mather AAPI Reg No: 012541, Duponts Valuers, Property Research

Valuation Address :     Unit 1/38 O’SHEA CIRCUIT, CESSNOCK NSW 2325
Main Building :            Proposed with 3 bedrooms, 2 bathroom/s
Car Accommodation :  Double Garage
Areas Living :             152.00m²

Comments:
Under consideration is a yet to be constructed three-bedroom unit which will incorporate an attached double garage and be fully landscaped. Upon completion, this unit will provide a good standard of accommodation in a growing sector of the Cessnock property market.


VALUATION AS OF 17th July 2007: $325,000 (Three hundred and twenty five thousand dollars) per unit

Total projected Income                                       $650,000.00