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SunLife Hervey Bay

Unique Property Investment Opportunity

Forecast 70% IRR – 3 Times Multiplier, Asset Secured

Business Highlights

Partner with a leading experienced property developer to purchase and develop the 1.4 ha site, 637 Charlton Esplanade, Hervey Bay for 130+ apartments. Purchase contract for $4 million – $2.5 million capital and $2 million bank borrowings. Preferential return of capital and interest.

 

  • The Fraser Coast is one of the fastest-growing areas in Australia.
  • Hervey Bay is one of the fastest retirement growth areas.
  • Over 50’s and retirement communities are one of the fastest growing housing development markets.
  • SunLife Australia specialises in over 50/55’s independent living freehold luxury developments.

Transaction Overview

Short or long-term opportunities available for a Premium Return

Current Requirement:

  • A$2.5M Land Settlement
  • Sole or Syndicate Investment
  • Minimum A$100,000 Investment
  • 30% pa fixed return + 25% profit share

Project Overview

Phase 1 – Land Settlement – $2.5 million Capital Requirement – Settle October 2023

  • Secure investment with land
  • Valuation and independent research report available
  • Land purchase superb value at $30,000 per apartment based on 130 apartments
  • Elect all or partial repayment with further capital raise in 9 months for project capital
  • Single (or group investment) for $2.5 million to settle the land
  • Syndicate investment is available for investors wishing to participate in less than $2.5 million
  • Developer providing all ‘risk capital of $1 million for DA, presales and design development adding substantial value to the land – estimated minimum value $6.5 million

Phase 2 – Project Capital Raising May 2023 – Commence Construction Mid 2023

  • Development of 130 to 150 luxury style over 50’s apartments with excellent facilities
  • Excellent location with superb views and less than 40% site cover
  • Project Forecast is circa $100 million Gross Realisation over 2 stages in 2 x 8 storey buildings
  • Project Profit Forecast is circa $20 million
  • Forecast project term – 3 years

Summary Target Timetable for SunLife Hervey Bay Project:

  1. Settle land end of October 2022 with debt funding ($2 million) and investors (2.5 million)
  2. Development Approval, Presales and Design Development – August 2022 to July 2023
  3. Raise a further minimum of $3.5 million circa April 2023
  4. Stage 1 – 80+ apartments target construction commencement mid 2023
  5. Stage 2 – 50+ apartments target construction commencement mid 2024
  6. Target project completion and all sales settlement final quarter 2025

The site is a large regularly shaped land parcel on the western side of the Urangan Boat Harbour in Hervey Bay

Fast Growing Area

Mecca for Retirement Living

International Class Airport

Freehold Ownership

Financial Overview

Project Income Both Stages Stage 1 Stage 2
Gross Sales Revenue (apartments and management rights) $97,593,704 $55,599,135 $41,994,569
Net Sales Revenue (after GST, sales commission and settlement costs) $85,425,440 $48,590,511 $36,834,929
Total Project Cost (land, settlement costs, development and construction costs) $62,977,608 $37,134,804 $25,842,804
Project Interest – Construction and Mezzanine Funds $2,761,149 $2,180,789 $580,361
Project Profit $19,686,684 $9,274,919 $10,411,765
Construction Debt as a % of Total Costs 70% 70% 71%
Project Profit as a % of Total Project Costs 34% 29% 41%
Construction Debt as a % of Net Revenue 51% 53% 50%

 

Announcements

August 2022
Property Investment Forecast 70% IRR 

Read more

Team

Timothy Wright

Chairman

Simon Wright

Director of Marketing & Legal

Kip Kirkland

Director of Costing & Construction

Rebecca Dennis

Director of Operations & Investment

Jane Mackenzie-Ross

Director of Sales & Acquisitions

Anna Bradshaw

Director of Administration

    Thank you for your enquiry.
    We will be in touch as soon as possible.