The property at 28-32 Lords Avenue, is situated 26 kilometres from Sydney’s CBD, in the premier suburb of Asquith in Sydney’s Upper North Shore, and located within the shire of Hornsby.
The suburb is predominantly residential and is well serviced with amenities close by. The Asquith railway station is situated just 600 metres south of the property and public buses are available close by. Westfield Shopping Centre at Hornsby, is located just 2.7 kilometres to the south of Lords Avenue and a Coles supermarket is also nearby. The area is also well serviced with schools and colleges including Asquith Boys and Girls High Schools, Barker college, Hornsby Girls High School, Asquith Primary School, Mt Colah Primary Schools and Hornsby TAFE. Several major roadways are also close by including Pennant Hills Road (Cumberland Highway), The Sydney-Newcastle M1 Pacific Motorway as well as the Pacific Highway, which provides access to the wider Sydney Metropolitan area and the north coast.
The funding is for the purchase and construction of a five storey residential building, known as Allira North, comprising 44 apartments above a two level basement. The complex will contain six x one bedroom apartments, one x one bedroom + study apartment, 30 x two bedroom apartments, three x two bedroom + study apartments and four x three bedroom apartments.
Twenty presales have been achieved totalling approximately $13.27m (GST exclusive) and representing circa 74 percent peak debt cover.
Estimated development progress as at 20 June 2019