Salta finds ally for $230m offices

The Australian, Australia by Ben Wilmot 28 Mar 2019

EXCLUSIVE Private developer Salta Properties is stepping up its commercial property ambitions - striking a fresh partnership with the listed Abacus Property Group to develop a $230 million office complex in Melbourne's Richmond - but also remains confident that the residential market will bounce back.

The company, run by billionaire scion Sam Tarascio, is readying to kick off the speculative development of a $230m project in Church Street in Richmond by introducing the listed Abacus Property Group as its joint-venture partner.

At the same time it is finishing off major apartment projects, promoting new logistics parks and pushing into the build-to-rent sector.

"We try not to let cycles influence our thinking too much," Mr Tarascio said.

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