41 Solomon Avenue, Loganholme

Construction updates

Richard and Marnie visited the site at Loganholme on 20th July. As part of GPS’s education process, Richard walks all staff through how to complete a proper site inspection. Marnie‘s report noted that the site was clean, tidy and well organised and there was plenty of activity.

As of our Quantity Surveyor’s (QS) inspection on 7 July 2017, progress at 41 Solomon Avenue is as follows:

  • The site has been established and earthworks are complete;
  • Floor slabs have been completed on all 13 townhouses;
  • Floor and wall framing is complete on 6 townhouses, with framing to another 5 townhouses in progress;
  • Roof framing is underway on 6 townhouses;
  • Demolition of the existing dwelling is in progress; and
  • Site works for an additional 2 townhouses are in progress.

Currently the QS’s anticipated construction completion date is 30 January 2018, which is well ahead of GPS’s milestone date of 30 April 2018.

This loan settled on 23 June 2017, and is already 20.47% complete (as of 7 July). Construction on this project is absolutely flying!

Three complete townhouses at 27-49 Station Road, Bethania are held as collateral security for this loan, and all three are now sold!

~

Southgate Developments Pty Ltd is currently open for limited investment, so get in soon! Please contact Lisa for a copy of the SPDS on 1800 999 109 or lisa@gpsinvest.com.au. Photographs taken 20 July 2017.

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