Wallis

Location

Forster is an established suburb on the Mid North Coast region of New South Wales. It is situated approximately 224 radial kilometres north-east of Sydney CBD and approximately 108 radial kilometres north-east of Newcastle CBD. The suburb has many lifestyle offerings, including beaches and waterways, numerous restaurants and cafes, recreational fitness facilities and parklands, local shopping facilities and several retail shops.

Within proximity are many other lifestyle offerings including several hiking trails, several golf courses, RSL clubs and Stockland Shopping Centre. There are also several public and private schools including Forster Public School, Holy Name Primary School and Great Lakes college Tuncurry. Transport is available via bus with regular services to surrounding suburbs including Taree where there is regular train routes into Newcastle and Sydney.

Development Project

This project is built on a site of 2,283 m2, with 38 apartments and a basement car park. As of July 2024, the project is 48% completed against cost. Structural works below level 10 are completed and external blockwork walls are progressing well.

Purpose

To refinance existing loan and assist with the construction of 38 apartments and a basement car park.

Exit Strategy

The primary exit strategy is via the partial sale of the units and convert into a residual stock facility.

Construction Progress

Construction is 48% complete against cost as of July 2024.