My Property Group Australia introduces the Highgate Hill Residential Development Offer
Elevated five floor boutique apartment complex positioned on the cusp of the celebrated West End cafe precinct, the Highgate Hill Residential Development will offer executives, young couples, and downsizers vibrant lifestyle opportunities within an easy stroll of West End, Southbank and the CBD.
An elevated five floor boutique apartment complex offering a mix of two, three, and four bedroom apartments with views across to the City. Each apartment will have quality fittings and finishes and European appliances. Residents will be able to entertain in style by the pool complete with barbecue and media facilities. The apartments also have secure basement car parking.
Each apartment has been designed for the modern lifestyle by an awarding winning architect and the complex is perfectly located to enjoy all the River City has to offer.
Investors will also be enticed by the property's close positioning to multiple schools and universities, various boutique, dining, and shopping amenities which combine to present an immensely appealing and favoured residential location for renters.
We intend to stage the construction of the apartment complex and the sale of apartments over the estimated 24 month development period with the initial capital being used to fund the Property settlement, acquisition costs, Development Approval costs, Construction costs, fees and charges.
The Development Approval being sought for the development is a Code Assessable application with Brisbane City Council. This application is an "As of Right" approval to the land owner who is entitled to build 5 stories with no public notification. Urbis Town Planners have confirmed this in their development constraints advice and the advice was also confirmed by Brisbane City Council in a pre-lodgement meeting be held in late June 2015.
The following information is offered as a guide. If you wish to participate in this Offer you should read the Product Disclosure Statement, comprising Part 1 and Part 2, in its entirety.
|Who Can Invest?||The Offer is open to Self Managed Superannuation Funds (SMSF), Custodian Trusts which satisfy the limited recourse borrowing arrangements for self managed superannuation funds, Individuals, Companies and Trusts.|
|Objective of the Fund||
1. Acquire the properties located at 24, 26, and 28 Jones Street Highgate Hill Queensland 4101 and 8 Colton Street Highgate Hill Queensland 4101 (Properties);
2. Undertake the development of a five storey, premium 38 unit development with city views (Development);
|Expert Valuation Services Pty Ltd (EVS) independent assessment||
EVS is currently undertaking an independent assessment of the market value on an "As if Complete" basis.
We anticipate the Gross Realisation including the sale of the Management Rights to be in excess of $31,000,000.
|Minimum application amount||$10,000 per investor. Application amounts in excess of this amount must be in increments of $5,000.|
|Targeted Investor Return||15% per annum + 50% of Development profit.|
|Investment Timeframe||24-30 months (expected completion Dec 2017)^1|
|Project Leverage||56% based on total assets|
|Auditor||Merrotts Chartered Accountants|
|Custodian||Australian Executor Trustees|
|^1 Current Estimate at time of publication, refer to PDS Part 1 for risks that may affect the project completion dates|
Documents will be released to the general public shortly.
|Product Disclosure Statement - Future Property Holdings Fund - Part 1 *||View / Download|
|Product Disclosure Statement - Part 2 *||View / Download|
|Application Form - Highgate Hill Residences Development Fund *||View / Download|
|Investment Overview *||View / Download|
* By downloading these documents you agree that this information is of a general nature only and has not taken into account your particular circumstances. You should consider whether the strategies and investments are suitable for you or seek personal advice from licensed financial planner before making an investment decision. Unless specifically stated, the repayment of capital or the forecast performance of this investment is not guaranteed.