Wealth
The proposed development is located within Geelong, approximately 75 kilometres west of Melbourne CBD. The development is situated on the southwestern corner of Gheringhap Street and Bayley Street. Surrounding the proposed development is a mixture of low to medium-rise commercial buildings, retail and lifestyle amenity and organisations such as Worksafe Victoria’s Head Office, Deakin University, NDIS and Geelong City Council.
Education facilities close to the development include Matthew Flinders Girls Secondary College, St Mary’s Primary School and St John’s Lutheran School. Public transport, including bus and rail, is available at Geelong Railway Station, located approximately 150 metres to the west. Several bus routes operate along the surrounding streets. The Princes Highway is approximately 500 metres west of the site, which provides accessibility to the surrounding suburbs and the Princes Freeway.
The purpose of the Syndicate-Fund is to refinance an existing Syndicate-Fund (number 647), and to provide the Borrower time to finalise documentation and obtain pre-leases for the proposed development of a 13-storey office, café, gym, co-working accommodation and a rooftop bar at the property located at 12-18 Bayley Street & 16 Gheringhap Street, Geelong VIC 3220 (Security Property).
Interest rate(p.a.) | 8.80% |
Loan to value ratio (max.) | 65.00 % |
Loan start date | 24 November 2023 |
Expected completion date | 10 October 2024 |
Initial debt coverage ratio | 0.00% |
Updated debt coverage ratio | 0.00% |
Undrawn loan amount | $0.00 |
If you are establishing an account for a Trust please contact 13 29 39.
Interests in the Australian Unity Select Income Fund ARSN 091 886 789 (Fund) are issued by Australian Unity Funds Management Limited ABN 60 071 497 115, AFS Licence No. 234454. Information provided here is general information only and current at the time of publication and does not take into account the objectives, taxation, financial situation or needs of any particular investor. Information about the Fund can be obtained from the Fund’s Product Disclosure Statement (PDS) and Target Market Determination (TMD) available at Select Income Fund. This product is likely to be appropriate for a consumer seeking income distribution to be used as a satellite/small allocation or a core component within a portfolio where the consumer has a short, medium or long investment timeframe, medium or high risk/return profile and needs annually or longer access to capital. In deciding whether to acquire, hold or dispose of the product you should obtain a copy of the PDS and TMD and seek professional financial and taxation advice. This information is intended for recipients in Australia only. Past performance is not a reliable indicator of future performance.