Mirvac boss calls mortgage approval process 'tortuous' after buying Melbourne investment apartment

Mirvac boss calls mortgage approval process 'tortuous' after buying Melbourne investment apartment
Mirvac boss calls mortgage approval process 'tortuous' after buying Melbourne investment apartment

Susan Lloyd-Hurwitz, the Mirvac chief executive, has spent $770,500 to buy a bolthole in Mirvac's recently completed development in Melbourne, the Eastbourne, which boasts apartments as an "inner city Eden".

She has recently noted securing her mortgage had been a "painful process."

"It's tortuous."

The scrutiny can "get non-sensical" she added. 

Title documents reveal her banker is Westpac.

The Killara-based Lloyd-Hurwitz had been known to be an off the plan buyer since the complex went up for sale in the pre-Royal Commission days of 2016.

Buyers of the apartments have also emerged as including Mirvac director Elana Rubin who spent $1.89 million.

There have now been calls for the Mirvac annual report to list such purchases in its related-party disclosure requirements.

Mirvac argues no specific declaration about an acquisition is required because shareholders were on notice that its directors had the opportunity to purchase apartments.

This article was first published in the Weekend Australian.

 

Tags: 
Mirvac Eastbourne

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