Bell Street

Project Location

The Project is well located in Heidelberg West and in close proximity to some of the largest employers in Melbourne’s Northern suburbs, being Austin Hospital, La Trobe University, Northland Shopping Centre and Melbourne Polytechnic (Heidelberg campus). The location is supported by good infrastructure including proximity to Heidelberg train station, connectivity through the main arterial road along Bell Street which will be aided by the ongoing construction of the North-East Link which will complete Melbourne’s Ring Road.

Project Development

The residential apartments comprise a product mix of one-, two- and three-bedroom apartments of a typical open plan layout with standard balcony areas, and will be completed to a mid-high standard. As per the QS report dated January 2023, 31% of the construction works have been completed. This includes: site establishment, crane erection, in-ground services & footings completed, ground slab and Level 4 completed, Level 5 formwork and reinforcement progressing. The estimated completion date is December 2023.

Project Loan Details

The developer is an established Melbourne property developer who has completed residential land subdivisions, medium density unit sites, premium townhouses and high-density apartment buildings since commencing operations 10 years ago in 2011. To date, the developer has completed more than AUD$100 million of projects.

As at end January 2023, the pre-sale coverage of the apartments is approximately 80.5% of the loan facility limit.