The property at 146-148 Great North Road is situated in the suburb of Five Dock, approximately 10 kilometres west from Sydney’s CBD.
The suburb is predominantly residential and is well serviced with amenities close by. The Five Dock main shopping precinct is situated approximately 50 metres away along Great North Road and includes cafes, banks and a Coles supermarket. The location has good access to public transport with bus services nearby together with Croydon Railway station located 3 kilometres to the South. Nearby schools include Five Dock Public School, Domremy Catholic College and All Hallows Catholic Primary School. The area incorporates a number of recreational facilities including Barnwell Park golf course, Timbrell Park, Five Dock Park and Halliday Park.
The funding is for the development of a four storey mixed-use building comprising 21 units and 3 ground level retail shops above a basement. The complex will contain 6 x one bedroom units, 1 x one bedroom plus study unit, 13 x two bedroom units and 1 x three bedroom unit.
The Borrower has requested no pre-sales resulting in a loan to valuation ratio covenant limited to 54.98 percent.
Estimated development progress as at 04 June 2020