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Property information

The property at 98 River Terrace is situated in the inner suburb of Kangaroo Point, located within one kilometre radius and directly east across the Brisbane River from Brisbane’s CBD. Kangaroo Point comprises a mixture of medium and high density residential dwellings, character dwellings and mixed use buildings. The property is located between a medium density residential brick building to the south and north. West and opposite the site are car parking spaces for the Kagaroo Points Cliffs Park and bike track that has frontage along the Brisbane River.

The property is situated within close proximity to all necessary amenities including retail, education, child care, public transport, sporting amenities and parks. Nearby schools include St Joesph’s Primary School, East Brisbane State School, Mater Hospital Special School, Somerville House and St Laurence’s College. St Vincent’s Private Hospital Brisbane and the Thornton Street Ferry Terminal are located 0.5 kilometres and 0.8 kilometres directly north respectively.

Approved loan will assist in financing the development of 10 x three bedroom residential apartments over five levels, two apartments per floor with basement car parking.

Construction will not commence until the developer has satisfied the following two conditions: four presales totalling $6,229,000 which equate to circa 72 percent debt coverage excluding GST; and Australian Unity’s panel Quantity Surveyor to confirm the preferred builder’s construction costing to Australian Unity’s satisfaction.

Australian Unity has been advised of the intention to grant a second mortgage over security property in the sum of $2,000,000; Australian Unity will have first ranking mortgage via execution of Deed of Priority.

Property details

  • Syndicate No.
  • Interest Rate (Net PA)
  • Loan to Value Ratio (LVR)
  • Start Date
    June 2020
  • Investment Term
    19 Months*
  • Property Type

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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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