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Property information

The property is located in Clifton Hill, VIC, approximately 2.5 kilometres north east of the Melbourne CBD.

The site is located close to local cafes, restaurants and retail shops along the attractive local shopping strip on Queens Parade, bordering Fitzroy North. Easy access to public transport is available with tram and bus services running along Queens Parade, and a short 400 metre walk to the Clifton Hill Train Station. The property is also conveniently located to several recreational facilities such as Darling Gardens, Mayors Park and Merri Creek.

The property is an irregular shaped development site which provides a frontage of 17.53 metres to the south side of Queens Parade, and a second frontage of 14.51 metres to the west side of Gold Street. The site has been cleared of all improvements.

The property has received a Planning Permit from the City of Yarra, to develop a four level building. The development comprising of three café premises on the ground floor with frontages to Queens Parade, in addition to 15 upper floor apartments. The apartment mix will include 8 x 1 bedroom apartments and 7 x 2 bedroom apartments. Car parking is provided within car stackers for 14 cars.

As at April 2017, 13 pre-sales have been achieved, consisting of 10 residential apartments and all three retail tenancies, totalling $9,573,000 (GST exclusive) and representing circa 131% debt coverage of the loan facility.

Property details

  • Syndicate No.
  • Interest Rate (Net PA)
  • Loan to Value Ratio (LVR)
  • Start Date
    May 2017
  • Investment Term
    May 2017 – Nov 2018*
  • Property Type
    Mixed Use - Construction

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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.

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