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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 12-18 Napier Street, in Footscray, an inner-western Melbourne suburb situated approximately five kilometres from the central business district.

Named after an area on the River Cray in England, Footscray is a diverse and multicultural area that has a storied history reflecting the waves of immigration experienced in Melbourne, and is currently undergoing significant development and gentrification. Amenities include over 130 restaurants from over 15 different countries, four kindergartens, five primary schools, two secondary schools, a Victoria University campus, one public library and Western General Hospital.

Footscray is also home to numerous sporting clubs and societies that cater to both professional athletes and amateur enthusiasts, covering but not limited to sports including football, cricket, cycling, gymnastics, hockey, lacrosse, rowing, rugby and swimming. Footscray Park is the second largest botanical garden in Victoria and sits across the Maribyrnong River from Flemington Racecourse, which is in the neighbouring suburb of Flemington.

The development is located 600 metres from Footscray railway station, which is served by the Sunbury, Werribee and Williamstown metro train lines, as well as several V/Line services, terminating at Southern Cross. Additionally, there are 15 separate bus routes operating via Footscray station that includes services to Highpoint Shopping Centre.

The proposed development will contain 41 residential apartments, three retail units, and car accommodation via 44 stackers and seven at grade spaces. The residential accommodation will comprise 7 x one bedroom, 23 x two bedroom, 5 x two bedroom + study, and 6 x three bedroom units.

21 apartments have been sold at a value of $12,929,650 (GST inclusive), which is circa 73.58 percent of the facility limit (GST exclusive).

#535
Footscray, VIC
12-18 Napier Street
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 30 July 2020

88%
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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.