The property is located in Beaumaris, a bayside suburb that fronts the waters of Port Phillip and is approximately 20 kilometres south of Melbourne’s central business district. The land is situated on the northern side of Bolton Street, in the municipality of Bayside. The suburb is situated on a headland that almost surrounds the entire suburb on three sides by water. A pedestrian and bicycle trail follows the entire length of the Beaumaris coastline, along the clifftops and beaches.
The surrounding area is wholly residential in nature and is characterised by older-style dwellings on moderate to large allotments. Interspersed are modern, contemporary residences that have been recently developed or renovated.
The property is well positioned and close to a full range of complementary services and facilities including strip shopping at the junction of Balcombe and Bluff roads to the west of the property, or the Concourse Shopping Centre to the south-east. A bus service operates along Balcombe Road and the Mentone Railway Station is just four kilometres to the east. Beaumaris and adjoining Mentone are well serviced by a number of public and private primary and secondary schools. Public reserves and recreational facilities are located within the immediate vicinity including the Port Phillip foreshore, a short distance west. Royal Melbourne, Victoria and Sandringham Golf Clubs are also nearby.
The funding is to construct two semi-attached, two-storey townhouses which will encompass an area of 250 square metres and provide three bedroom accommodation, two bathrooms, two powder rooms, and will include a balance of formal and informal living areas. This will be complemented by a lock-up double garage, decked area, first floor balcony and low maintenance gardens.
The borrower is looking to market the townhouses during the construction phase and therefore there are no requirements for pre-sales prior to settlement.
Estimated development progress as at 27 March 2020