Balmain Trilogy is pleased to announce that the acquisition of the ‘Commercial Precinct’ by an existing borrower of the Fund settled on 10 December 2013. As detailed in the June 2013 Fund Update, the Commercial Precinct is comprised of the following lots:
|Lot||Plan of Subdivision||Area (SQM)||Master Plan approval (Residential dwellings)|
The acquisition will unify the commercial core of the established Martha Cove portfolio which, in addition to the Commercial Precinct, consists of Precincts 3 and 4 (already under the control of the Fund).
The relative position of the relevant Precincts is shown below:
The Commercial Precinct will be released to the market in due course as part of the Fund’s Precinct realisation program.
The Commercial Precinct has been designated as Asset 43.