The purpose of the Syndicate-Fund is to refinance the existing loan facility (Syndicate-Fund 636) to assist with the construction of a split-level mixed-use commercial building at 41, 41A and 43 Queen St, Goodna, QLD.
The development will comprise a two-level building for mixed use with retail accommodation on the ground floor and childcare accommodation to the first floor. It is located on the northern side of Queen St, Goodna, a suburb of Ipswich which is primarily residential with a commercial district. It is located 14 kilometres west of the Ipswich City Centre and is 21 kilometres southwest of the Brisbane CBD.
Proposed for this site is the construction of a part two-level mixed-use building comprising medical accommodation and retail to the group floor and child-care accommodation on the first floor. The childcare centre will accommodate 112 children and includes 7 activity rooms, secure entry way and laundry facilities.
The proposed development also includes a 100sqm café and a medical suite with 5 tenancies.
The land is situated on the western alignment of Queen Street, near Alice Street in the suburb of Goodna. Approximate 14 km east of Ipswich City Centre and 21 km south west of Brisbane City Centre. St Ives Shopping Centre is located 350m from the property and an easy 200 m walk to the Goodna Train station. Schools within 3 km include Goodna Special School, Westlife Christian College, Camira State School, Kruger State School. Goodna Boat Ramp is one of the only boat ramps on the Brisbane River and is part of the Brisbane River Canoe Trail.
With 2 local golf courses and parks widespread within the suburb, including over 14 individual parks to be found and free electric barbecue facilities at the major ones. Names of some of the major parks include: Evan Marginson Sportsground, Richardson Park, Leslie Park, Kippen Park, Norma Mulvihill Park, Baines Meaney and Seymour Park. Goodna is renowned for its yearly Jacaranda Festival held towards the end of October attracting more than 10,000 visitors each festival.
| Interest rate(p.a.) | 14.25% |
| Loan to value ratio (max.) | 67.06 % |
| Loan start date | 12 May 2023 |
| Expected completion date | 02 August 2023 |
| Initial debt coverage ratio | 0.00% |
| Updated debt coverage ratio | 0.00% |
| Undrawn loan amount | $0.00 |
