Bastion Development Group

Transaction Summary

Investment Highlights

Transaction Overview

Terms of offer:

Bastion Development Group Pty Ltd is offering fully paid ordinary shares at A$0.20 per share, restricted to wholesale clients and sophisticated investors within the meaning of sections 708(8) and 708(10) of the Corporations Act 2001 (Cth), together with other eligible strategic buyers and family offices. This tranche represents the initial close of a broader raise of up to A$25,000,000 in group-level equity. The offer does not constitute a disclosure document, product disclosure statement or prospectus, and has not been lodged with ASIC. 

USE OF FUNDS

The Group's source materials set out this tranche's use of funds by priority rather than by a fixed percentage. In descending priority:

Company Overview

Bastion Development Group Pty Ltd is a vertically integrated property platform operating across the full lifecycle of residential development in Southeast Queensland, with a particular focus on the Gold Coast. Rather than performing a single function in the property value chain, Bastion originates sites, manages development through Bastion Residential Development Pty Ltd, delivers construction in-house through Bastion Residential Built Pty Ltd, and operates completed assets on a recurring-income basis through Bastion Manager Pty Ltd.

Each project is held in a ring-fenced, project-specific special purpose vehicle, with senior finance facilities structured on a non-recourse basis to the Bastion Group parent entity - designed to contain risk at the individual project level rather than exposing the Group's balance sheet as a whole.

NERA Residences, the Group's flagship project in Chevron Island, is the clearest evidence the model works in practice: it is under construction, financed against an independently audited senior facility of approximately A$114 million (of which A$19 million has been drawn to date), and has achieved sales in excess of A$100 million against its A$176.5 million gross realisable value - well ahead of its December 2027 forecast completion. Alongside NERA, Surfer has its development approval submitted and is targeting a mid-2026 construction start, and Ocean House,  the Group's largest and highest-margin asset, continues through planning.

Southeast Queensland is converging on a rare combination of structural tailwinds: sustained interstate migration, a deep infrastructure investment pipeline, constrained new apartment supply relative to population growth, and the approach of the 2032 Brisbane Olympic Games, which has historically driven precinct-level property price growth of 30–100% in host cities during the lead-up period. Bastion's pipeline, team and delivery capability are already in place; this raise is intended to convert that secured pipeline into delivered, cash-generating assets ahead of that demand wind.

Team