The Property is located in Avondale, a predominantly residential suburb located approximately 102 radial kilometres south-west of Sydney and 14 kilometres south-west of the Wollongong CBD.
Avondale is located on the southwestern edge of the regional town Dapto. Dapto Railway Station and Dapto Mall are within a 2.5-kilometer radius. Dapto Mall tenants include Coles, Woolworths, Big W, major banks and other associated retail. The surrounding development includes rural/residential lots, established detached residential homes and new townhouse and villa developments
The development comprises 85 x three-bedroom townhouses and 7 x four-bedroom townhouses.
The purpose of the Syndicate Fund is to refinance and increase the existing loan facility (Syndicate– Fund 640) to assist with the development of 92 townhouses with associated infrastructure including an internal private road network, a communal open space and landscaping at 24, 24A and 24B Avondale Road, Avondale, NSW 2530.
| Interest rate(p.a.) | 9.75% |
| Loan to value ratio (max.) | 67.38 % |
| Loan start date | 18 March 2024 |
| Expected completion date | 29 November 2024 |
| Initial debt coverage ratio | 0.00% |
| Updated debt coverage ratio | 0.00% |
| Undrawn loan amount | $11,514,000.00 |
