The development is in the established and sought-after bayside suburb of Hampton, Victoria. The location on Hampton Street is within easy walking distance from Hampton Railway Station and it is surrounded by cafes, bars, restaurants and shops.
The finished development will comprise a three-level mixed-use building, including 8 apartments, the ‘Tilli Apartments’, 2 ground floor retail units and secure basement parking for 17 vehicles. The residential accommodation will offer two and three bedroom residences with generous living areas and kitchens, featuring natural stone and premium finishes. Terrace spaces will be included with each apartment and bike racks are available on basement and ground levels.
The retail units are well positioned in an established mixed-use precinct and will include two secure car parking spaces for each unit.
The syndicate loan has been established to assist with the development. Currently 4 apartments have been presold at a value of $4,470,000 GST inclusive, which provides debt coverage of 64.48% of the facility limit.
Estimated development progress as at 04 August 2020