Asset 20 is a 29-hectare industrial estate situated in Braeside, Victoria, comprising six large allotments with an average size of approximately 4.8 hectares. One of the lots, Lot U (approximately 5 hectares), has been subdivided into 34 retail sub-lots and been the subject of a structured sales and marketing campaign producing 11 pre-sales. The contracts settled shortly after the subdivision plan was registered in June 2012.
Four lots (5, 19, 30 and 31) forming part of Lot U were put up for auction on Wednesday, 22 May 2013, which resulted in seven unconditional contracts of sale. Details are as follows:
|Lot No.||Area (sqm)||Deposit||Status||Expected Settlement Date|
Lot 8 is under a prior unconditional contract of sale expected to settle on or about 9 August 2013.
The marketing of the estate is being undertaken by the receiver and manager appointed by the Fund in accordance their statutory obligations to ascertain and obtain market value. The auction followed a comprehensive marketing campaign managed by Savills and CBRE, which was implemented via internet, press advertising and onsite signage. The prices achieved to date are in line with the valuation obtained by the receiver and manager and reflect the fair market value of these allotments.
Upon settlement of the eight aforementioned lots, fourteen lots will remain in Lot U. These lots will be marketed for sale over the coming months through an extensive campaign which will include advertising in The Age, Mordialloc Chelsea Leader, Bayside Leader, realcommercial.com.au, as well as on-site. Marketing of the remaining development lots (Q, W, X, Y, and Z) will also commence in the coming months.
A summary of the overall position in relation to Lot U is as follows:
|Lot U – Stock Schedule|
|Stock Summary||Number||Sale Price ($)||Area (sqm)||Area (Ha)|
Examples of the marketing collateral published in the press and distributed via email and hardcopy pamphlets can be viewed by clicking on the links below.
Should you have any enquiries, please call Balmain Trilogy Client Services on 1800 194 500 or email email@example.com