18-20 George Street, Sandringham VIC
Mixed use development – industrial, storage and childcare
Acquisition date: November 2015
Forecast project revenue: $18.5 million
Target Investor return: 1.4x equity invested over 24 month investment term
Investment partner: Trumen Corporation Pty Ltd
Located in Sandringham, one of Melbourne’s Bayside suburbs, the 4,500 m2 property has good access to public transport and the Nepean Highway, and is in close proximity to excellent local amenities including gyms, cafes, parklands and golf courses. The property is currently vacant (formerly a series of small warehouses) 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 2017.