Salozza Developments Pty Ltd

Construction updates

The majority of loans on the GPS books at the moment are townhouse projects. However, there are still some unit projects we are excited about. Salozza Developments Pty Ltd is one of those projects. The borrowers, Michael Plozza (multiple repeat borrower with GPS) and Anthony Salpietro, bring a wealth of experience to the development.

The project at 16 Troughton Road, Sunnybank consists of the construction of 16 units within a five-level building plus a small communal roof garden/terrace. The ground floor will comprise of car parking, twenty in total with two allocated for visitors. A passenger lift will access all levels and all units will have covered balconies.

Immediately surrounding the development are detached houses with the St Thomas More College located opposite the site on Troughton Road. Banoon railway station is within easy walking distance.

Michael Plozza has been well known and regarded by GPS for many years. Michael has successfully undertaken several projects as a borrower with GPS at 22-24 Adelaide Street, Carina and 15 Besham Street, Wynnum. He has also been the builder on GPS funded projects at 68 Cordelia Street, South Brisbane and 16 Le Grande Street, Macgregor.

As Executive Manager and Director of the Followmont Group for 25 years, Anthony’s responsibilities included administration and the operations of the transport business, property development and overseeing all warehouse construction projects.

Michael’s development and building experience will compliment Anthony Salpietro’s development management expertise to deliver a successful project.

As of the QS’s inspection on 9 September 2019, construction was 31.92% complete. The thrid and fourth floor slabs and formwork are complete with hydraulics and electrical services progressing through all levels.

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Salozza Developments Pty Ltd is currently open for investment. Please contact Olivia for a copy of the Supplementary Product Disclosure Statement (‘SPDS’) on olivia@gpsinvest.com.au or 1800 999 109. Construction progress photos taken 12 August 2019.

    

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