97 Old Pittwater Road, Brookvale NSW
Mixed use development – industrial, storage and childcare
Acquisition date: January 2015
Forecast project revenue: $19.9 million
Target Investor return: 1.4x equity invested over 24 month investment term
Investment partner: Trumen Corporation Pty Ltd
Located in Brookvale on Sydney’s northern beaches (approximately 16km from the Sydney CBD), the 4,047 m2 property has good access to public transport and major arterial roads providing access to the CBD and upper north shore. The property is currently vacant (formerly comprised older style office/warehouse units) and will be immediately developed once approval is obtained from council.
The strategy for the investment is to develop, strata and sell the completed warehouse and high-tech units, storage units and a childcare centre over the 24 month investment term. Practical completion is expected in mid – late 2016.