The property is located at 471B Bourke Street in the sought after inner-east suburb of Surry Hills. Situated just three kilometres from the Sydney CBD, Surry Hills is a city neighbourhood with a strong community and a village feel.
The suburb is known for its stylish cultural and café scene and boasts some of the best-quality eating establishments in Sydney, with art galleries, dog parks and markets on the doorstep. Central Station borders the suburb and the CBD is an easy walking distance. There is also a widening network of cycle paths. The area is well serviced with public and private schools including Bourke Street Public School, Crown Street Public School, Sydney Community College, Sydney Grammar School, Sydney Boys High School and Sydney Girls High School. The Australian Institute of Music's Sydney Campus is also located in Surry Hills.
Bourke Street comprises a mix of residential properties including terraces, apartments and warehouse living alongside shops, restaurants and cafes.
The funding is for the purchase and construction of a four storey residential building comprising four apartments. The complex will contain 1 x 1 bedroom, 2 x 2 bedroom and 1 x 3 bedroom apartments. Each apartment spans a single level of the development which will be serviced by a lift.
Construction funding is subject to one unconditional pre-sale which is expected to represent a debt coverage ratio of approximately 33%.
Estimated development progress as at 03 December 2019