776 - 784 Canterbury Rd, Belmore, NSW
Large Block of 44 units (42 x 1 bedders and 2 x studio bedders) with DA approval to add 16 studio units on top.
Estimated Profit: $7,056,000
Project Commenced: 10th June 2021
Pictures are of the CURRENT SITE
The property is due to settle in March 2022.
We are currently reviewing the new strata plans based on the additional units with the DA approval.
We have obtained a quote from Masco for renovating all units internally and externally, however, the builder is still doing the last steps of their due diligence to finalise the quote.
At this stage, we are planning to hold the units long-term and pay investors out by the way of refinance, however, we are also entertaining the idea of selling down a portion of the building depending on the market and circumstances
once construction is completed.
Project commenced: 10th June 2021
Purchase Cost: $15,140,000
Buy-in - ( 100 Shares ) : $155,000 per share*
Shares Status: Available
Exit Strategy - Make cosmetic property improvements (internal & external) build the new level of 16 studio units, then refinance or sell all units.
Duration: 18 - 24 months
Estimated Profit $7,056,000
$70,560 per share
45.52% investment return†
* Buy-ins increase at the close of every funding
round and in accordance with the project’s value at
that stage. Note that each project has several
funding rounds prior to construction commencing.
† Based on the initial buy-in of $155,000.
Developer - Kingdom
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