Select Income Fund

Property information

The proposed development is located approximately three kilometres south of the Melbourne CBD and forms part of the ‘Capital City Zone’ established in the rezoning of Fisherman’s Bend in 2012 The Security Property has easy access to the West Gate Freeway, Crown Casino, South Melbourne market and trams. Surrounding the Security Property are a mix of modern and converted warehouse properties and offices. More recent high-density apartment developments have been constructed near the Security Property.

The development benefits from close proximity to local retail amenity, including the Clarendon Centre which is anchored by a Coles Supermarket and the South Melbourne Market, and South Melbourne Central which is anchored by a Woolworths Supermarket and Aldi, less than 500 metres north-west.

There are a few primary, secondary, and tertiary education facilities including South Melbourne Primary School and MacRobertson Girls High School within a five-kilometre radius of the property. The Alfred Hospital is located four kilometres to the south-east. There are several parks within a five-kilometre including the Royal Botanic Gardens and Albert Park.

The purpose of the Syndicate-Fund is to refinance and increase the existing loan facility (Syndicate-Fund 611). The security for the Syndicate-Fund consists of two unencumbered, income-producing commercial properties located at 150-160 Gladstone Street, South Melbourne, Victoria (‘Security Property’).