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Property Details

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Fixed interest rates ranging from

6.75% – 8.75% 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 19-23 Avondale Road, in Dapto, a predominantly residential suburb located approximately 13 kilometres south-west of the Wollongong Central Business District.

The suburbs of Koonawarra and Yallah separate Dapto from the western coast of the Illawarra Lake. Dapto is separated from north to south by both the Princes Motorway and the Princes Highway. The suburb contains local amenities such as Dapto commercial centre, Dapto High School, and Dapto and Mount Brown public schools.

The development will provide 11 two storey townhouses comprising 8 x three bedroom and 2 x two bedroom. All residences will include open plan living spaces, two bathrooms and powder room and access to alfresco entertaining areas. There will be communal open space and landscaping thoughout.

The client represents an existing connection and this facility will be the eighth loan financed by Select Income Fund. The Borrower obtained Development Consent to develop 21, two storey townhouses upon the site located at 19-23 Avondale Road in two stages. Stage 1 was funded by Select Income Fund and is complete. Stage 1 consisted of ten townhouses and one residual land lot for stage 2 of the development. Presently 3 townhouses have been presold in Stage 2 at a value of $1,573,000 GST inclusive, which provides debt coverage of 47% of the facility limit. The loan at the completion of the development is expected to be repaid either from the proceeds from the sale of the townhouses or through refinancing with another lender.

#554
Dapto, NSW
19-23 Avondale 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 01 October 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.