Geelong, VIC

Development Site

REF ID: inv-0133

0% RAISED
$2,697,000 AVAILABLE
Investment Details:
Target Return:
10% p.a
LVR:
64.98%
Expiry Date:
Jul-2025
Loan Amount:
$2,697,000
Available Loan Amount:
$2,697,000
Investment Overview:

The Security Property is located in Fyansford, a suburb of the City of Greater Geelong VIC which has a population of 276,116 as of 30th June 2022 according to the Australian Bureau of Statistics. 


The Security Property comprises an irregularly shaped development site accessible via a narrow easement extending across a reserve from Escarpment Boulevard, with a total land area of 0.795 hectares.


The property is zoned General Residential Zone (GRZ1) pursuant to the Greater Geelong Planning Scheme.

The Security Property benefits from Planning Permit PP-64-2022 issued by the City of Greater Geelong allowing "Construct thirty-six (36) dwellings on a lot, boundary realignment, remove and create an easement on Council Reserve". The Security Property occupies an elevated position within an existing estate. It is surrounded by a designated reserve and adjoins a large playground thereby offering a variety of attributes well suited to medium-density townhouse development.

The subject property is located near the Geelong Ring Road on the western side of Metropolitan Geelong and other notable landmarks within proximity are:


    • Geelong town centre: 2.5kms south-west
    • The Pier Geelong: 7.2kms east
    • South Geelong Train Station: 7.8kms east

The Borrower acquired the property by way of a Contract of Sale dated 16th August 2022 in the amount of $3,500,000 plus GST.


The parent development for the area is known as "Gen Fyansford" and the Illustration below shows the Estate Plan for the parent development with the infill site forming the Security Property Identified.

Full details, unique to each investment, are provided to Investors in a Supplementary PDS. These detailed Supplementary PDS's are only available to Investors in Credit Connect Group. You can start building your own first mortgage investment portfolio now by investing in an individual loan with Credit Connect Group.

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