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Property Details

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Fixed interest rates ranging from

7.25% - 9.00% p.a.

Short term investments ranging from

1 to 24 months

Reinvest your earnings or have the

interest paid monthly

Property information

The property is located at 16-18 Worthing Road, in Highett, a Melbourne suburb situated sixteen kilometres south-east of the central business district and two kilometres east of Port Phillip Bay.

The suburb continues to undergo significant development with a high number of residential properties being renovated due to the suburb’s close proximity to both Port Phillip Bay and Melbourne City, making it a preferred location for professionals and young families. Educational institutions in Highett includes a primary school, a private Kindergarten Highett Preschool and the junior campus of Sandringham College.

Highett is also home to Highett Cricket Club, an Olympic-length public swimming pool and Highett Football Club. The Cricket Club is the second oldest in Kingston City (local government area) and features three ovals, large clubrooms and a children’s playground. Highett railway station is located on the Frankston line, running from Frankston to Flinders Street and is also served by two Ventura bus routes, 708 and 828. These routes run from Carrum station to Hampton station, and Hampton station to Berwick station, respectively.

The proposed development of fifteen residential apartments, over three levels, includes 8 x two bedroom, 1 x two bedroom + study, 5 x three bedroom and 1 x three bedroom + study units, complete with a basement carpark.

With four apartments sold, the existing pre-sale debt cover is 40.35 percent (GST exclusive) and the loan is preconditioned to achieve a minimum 50 percent pre-sale debt cover (GST inclusive), prior to drawdown of funds for construction purposes. There is also a pre-sale milestone of 80 percent debt cover (GST inclusive) to be achieved within six months of the initial drawdown.

#532
Highett, VIC
16-18 Worthing Road
Investment details
  • Interest rate(p.a.)
  • Loan to value ratio (max.)
  • Loan start date
  • Expected completion date
  • Initial debt coverage ratio
  • Updated debt coverage ratio
  • Undrawn loan amount

Estimated development progress as at 06 March 2020

100%
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Important Information

The interests in the Australian Unity Select Income Fund ARSN 091 886 789 are issued by Australian Unity Funds Management Limited ABN 60 071 497 115, AFS Licence No. 234454. Information provided here is general information only and current at the time of publication and does not take into account your objectives, financial situation or needs. In deciding whether to acquire, hold or dispose of the product you should obtain a copy of the Product Disclosure Statement (PDS) and seek professional financial and taxation advice. This information is intended for recipients in Australia only. Past performance is not a reliable indicator of future performance.

Interest rates, Loan to Value Ratios (LVRs) and investment terms are subject to a number of assumptions and risk that are detailed in the PDS and SPDS. Interest rates quoted are not guaranteed.

Illustrative Information only: Case study figures are based on internal calculations over a projected period of time and are not necessarily a projection of future performance. Any examples or information provided in the case studies are for illustrative purposes and investors should therefore place no reliance on this content when making any decision to invest. The case studies do not represent a recommendation or Australian Unity’s view on future events, and in no way bind Australian Unity or its related entities.