North Park
Schofields, NSW
North Park is a master-planned residential community comprising 180 blocks of prime residential land located in the vibrant growth region of Schofields, featuring urban planning by the award-winning design from Roberts Day. North Park is set amidst 32 hectares of parklands and provides an opportunity to purchase a valuable pocket of land at an affordable price in a market with unrivalled potential.
The subdivision had a development approval in place, and pre-sales with 10% deposits to primarily local owner-occupier buyers, sufficient to cover CBA’s (Commonwealth Bank of Australia) first-ranking senior security (plus fees and interest) as well as the preferred equity principal and interest position.
The investment commenced in June 2015 with subdivision works, linen plan registration and settlements enabling principal investment repayment in full and profit share payment in September 2016, generating an 18% IRR.
Asset type: Development
Investment type: Preferred equity co-investment
Return: 18% annual IRR
Status: Complete
Warning:
Returns are not guaranteed. Past performance is not a reliable indicator of future performance.
Forecasts are based on assumptions and estimates. Actual performance could differ materially and therefore it is not appropriate to rely on forecasts or assume that they will always be accurate.