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Cheltenham

329 Bay Road, Cheltenham VIC

Equity syndication

Mixed use development – retail, industrial, storage and childcare

Acquisition date: July 2016

Forecast project revenue: $30.7 million

Target Investor return: 1.5x equity invested over 24 month investment term

Investment partner: Trumen Corporation Pty Ltd

Overview

Located in the heart of the prominent Bayside suburb of Cheltenham, the property has good access to public transport as well as close proximity to excellent local amenities including gyms, cafes, parklands and golf courses. The majority of the 11,800m2 property is currently vacant (formerly a furniture showroom) and will be immediately developed once approval is obtained from council.

Investment Strategy

The strategy for the investment is to develop, strata and sell the completed warehouse and high-tech units, storage units, childcare centre and retail showroom over the 24 month investment term. Practical completion is expected in early 2018.

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