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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 at 1432-1436 Malvern Road is located within the suburb of Glen Iris, approximately eight kilometres south-east of Melbourne’s Central Business District. Positioned near the border of neighbouring Malvern, the development site is approximately 500 metres from Tooronga Railway station, on the Glen Waverly railway line, which is one of two lines that serves Glen Iris, with the other being the Alamein line. In addition to Gardiner, Glen Iris and Burwood railway stations being within the boundaries of the of the area, residents are also served by the numbers 5, 6, 72 and 75 tram routes, along with Melbourne bus routes also running through Glen Iris.

Recreational and sporting facilities include the Harold Holt Swim Centre, a BMX track at Hill'n'Dale Park, Burwood District Bowls Club and a number of reserves and ovals, including Hartwell Sports Ground, Ferndale Park and T.H. King Oval. The Glen Iris wetlands were established by the former City of Malvern in 1989. Glen Iris Road Uniting Church incorporates part of the original 1865 Wesleyan Church building.

A number of government and independent schools are located in Glen Iris, including Camberwell South Primary School, Glen Iris Primary School, St Cecilia's Primary School, St. Roch's Catholic Primary School, Sacré Cœur School, Korowa Anglican Girls' School and Caulfield Grammar School, Malvern campus.

The planned redevelopment will be comprised of 12 apartments, featuring 4 x three bedroom and 8 x two bedroom, as well as two retail units on the ground floor, above a dual basement carpark. The commencement of loan is pre-conditioned to achieving a pre-sales debt coverage ratio of at least 54.00% (including GST), which has been achieved through existing sales of 5 apartments valued at $5.795m (including GST). The loan is also conditioned to achieving total presales of $7.500m (GST inclusive), which is a pre-sales debt cover ratio of 69.9% (GST inclusive), within 12 months of the loan commencement date. The penalty interest rate may become applicable if this milestone is not met. The residual debt at the end of the facility is expected to be refinanced.

#544
Glen Iris, VIC
1432-1436 Malvern 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 28 August 2020

34%
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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.