The project at 57 Station Road, Bethania has reached 31.14% complete, with earthworks complete and retaining walls, civil hydraulics and electrical lines, underslab drainage, ground slabs and other trades all commencing and progressing well on site.
The two directors of the borrowing entity, John Marshall and Robert Knight, have impressive levels of experience. John Marshall heads No Limit Group, which has been operating since 1987 and has successfully marketed more than $500 million in residential projects.
Robert Knight was one of three directors behind the project at 85 Bilyana Street, Balmoral (1314 Property Pty Ltd) which was funded by GPS and successfully built and sold on time and within budget.
57 Station Road is a little unique as GPS is funding three stages of the project with the townhouses selling and settling as the project commences. Due to this, the loan is estimated to only reach a peak debt of $8.3 million. If you have any questions on how a multi-stage development works, please do not hesitate to call Richard Woodhead, our Managing Director, on 1800 999 109.
The borrowers have already achieved 11 unconditional sales and all are at, or slightly above, valuation. With a maturity date of 12 January 2020, this project makes for an excellent longer term option for investing.
57 Station Road Pty Ltd is currently open for investment. Please contact Olivia for a copy of the SPDS on 1800 999 109 or firstname.lastname@example.org. Photographs taken 1 November 2018.