Creekwood Villas Pty Ltd (Stage 2)

Construction updates

Another multi-stage project from a quality repeat borrower! Invest in the second stage of this townhouse project at Lot 1702 Ellis Way, Meridan Plains QLD 4551. Stage one construction is complete, with 21 out of 27 townhouses sold.

Meridan Plains is currently undergoing large scale residential development approved by the Sunshine Coast Council as part of an emerging community. This project forms part of the 17 stage Creekwood Residential Estate Masterplan within the AV Jennings “Creekside Estate”.

This is the second stage funded by GPS and consists of the construction of 26 residential townhouses, with 2 currently pre-sold. The development provides a good product mix with one, two and three bedroom townhouses, with a good standard of size and finishes.

The site is bounded by Parklands Boulevard and Creekwood Avenue and is located 5km east of the M1 with surrounding suburbs; Palmview, Currimundi, Caloundra and Pelican Waters. The site is well positioned in terms of local amenities, close to schools, parks, supermarkets, taverns etc. Larger shopping amenities nearby include the Currimundi Markets and the Stockland Caloundra Shopping Centre.

The developer, Devcon Building Co. Pty Ltd (‘Devcon’), was established as a family business and is now run by the son of the founders, Michael Kain. In addition to Michael’s role with Devcon, Michael has worked extensively in the real estate industry, selling countless properties ranging from spec homes and duplex units up to multi-unit townhouse developments.

Construction is 61.29% complete, estimated to finish around mid-October 2019. Loan repayment is estimated to be earlier than the June 2020 maturity date.

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Creekwood Villas Pty Ltd (Stage 2) is currently open for investment. Please contact Olivia for a copy of the SPDS on olivia@gpsinvest.com.au or 1800 999 109. Photographs taken 24 July 2019.

 

     

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