Linacre

Location

The Security Property is located within the bay side suburb of Hampton, approximately 15km southeast of the Melbourne CBD, which represents a desirable bay side suburb and is complementary to residential occupation. The immediate surrounding development comprises single and double storey dwellings Interspersed with some modern townhouses and older style apartment developments. Comprehensive retail amenities are located within Hampton Street. This precinct accommodates a number of supermarkets, banks, commercial offices, and boutique retails, anchored by Woolworths. Linacre Private Hospital neighbours the security site to the east. Educational institutions within the surrounding locality include Hampton Primary School, Sandringham Primary School and Sandringham College.

Development

The project will deliver 27 two and three-bedroom luxury residential apartments across three levels, ground floor commercial spaces and two levels of basement car parking. The commercial space will be used for medical suites

Purpose

To provide funding for the construction of a 4-storey mixed-use apartment, built over 2-level basement carparks.

Exit Strategy

The primary exit will be via the sale of individual apartments.

Construction Progress

9% completed.

Pre-Sales/Pre-Lease

Four lots have been pre-sold, contributing approximately 19% toward debt coverage.