Longland

Location

The Security Property is located in the established northern riverside mixed-use suburb of Newstead, approximately 3km (by road) northeast of the Brisbane CBD. The Security Property is surrounded by a mix of high-density residential with a mix of apartments, townhouses and some detached houses, commercial offices, and older-style warehouses/ self-storage.

The Security Property is within proximity to numerous major arterial roads including Ann Street to the west, which provides direct access to the Brisbane CBD and links through to the Riverside Expressway providing access to the Gold Coast and western suburbs. Wickham Street also to the west links with Kingsford Smith Drive to the north and provides access to the Brisbane Domestic and International Airports, as well as the Australia Trade Coast Industrial precinct and the outer northern suburbs.

Development Project

The proposed development is a 22-storey residential development comprising 239 residential units, a basement parking with 417 car parks, retail and commercial office tenancies. An amended DA has been submitted to further increase the potential achievable value of the project.

Purpose

To provide equity release for the developer and fund the loan establishment fees and other costs.

Exit Strategy

The primary exit strategy is via the sale of the site upon obtaining the amended DA or refinance into a construction loan.

Construction Status

N.A