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Port Macquarie Development

PORT MACQUARIE DEVELOPMENT
INVESTOR UPDATES


  • Update #1
  • Update #2
  • UPDATE #3
  • UPDATE #4

27th July 2018

Good morning Mike,

My consultant team have now completed and lodged with Council the engineering and stormwater detail.

You may recall from my last update that this particular Council was requiring an extra level in engineering work for all new DA applications, almost to that of construction certificate detail. This level of engineering detail has served us well because we were able to design the stormwater capacity to suit the yield for our future integrated development application.

Integrated Development

In the context of this project, council have indicated they would be happy to support a proposal which includes townhouses at the base of the site. The townhouses would be Torrens Titled as opposed to strata titled. The roads would be owned by the collective residents. 
- Michael F -

At present my focus is on the shorter approval time route for the standard subdivision plan which will create certainty and value for our investors, I expect this application to be approved around September/October ‘18.

Soon I will be preparing an ‘integrated’ development application (a little longer time frame and post investor participation) to overlay the standard subdivision plan. This will increase our yield up to approximately 48 plus Lots by having smaller Lots with different rules applying such as internal roads will become part of the body corporate, a bit like a townhouse site.

To cater for the future increase in yield, our we required a little more space for stormwater and our current yield is now 35 Lots (was 36).

The amended plan is currently on exhibition re-notification from 24th July to 6th August, then we await Council and RFS (Rural Fire Service) responses.

I have also received correspondence that we do NOT need to complete a Koala Habitat Plan of Management.

I think we’ve now completed the bulk of the work and have amended plans to satisfy Council and neighbouring comments.

Cheers,

Rob

PROJECT HIGHLIGHTS

Hotspotcentral raised the capital to fund the cost of council approvals and other costs for a 40 lot land subdivision in one of the last infill development sites in the highly prized area known as 'Transit Hill' in Port Macquarie, NSW.

According to the town planner assisting with this matter: 

"This site is considered to be amongst the best, if not the best site still available for residential development in Port Macquarie." - Graham Burns, Land Dynamics (town-planner, established in Port Macquarie for over forty years) Source

The site is zoned accordingly for detached housing with a minimum yield of 40 lots expected based on pre-lodgement discussions recently.

On offer is a 30% fixed dividend (net return) paid out of the equity released post DA approval (expected) May 2018.

MINIMUM INVESTMENT

$50k

MINIMUM FUND RAISING

$300,000

MAXIMUM FUND RAISING

$750,000

TIME TO COMPLETION

8 months (estimated)

FIXED DIVIDEND RETURN

30%

TYPE OF INVESTMENT

Preference ​Unit

PROJECT SUMMARY & EXIST SCENARIOS
Please note: the information below is superseded by the official information memorandum subsequently 

PART 1 - DISCUSS SITE PLAN AND OFFER WITH ROB SCOTT (DEVELOPER) AND MICHAEL FULLER

Located in the sought-after pocket called Transit Hill in Port Macquarie with the site being the last in-fill development land subdivision in central Port Macquarie.

Homes sell for more than $1,000,000 in the "Transit Hill" area.

According to Domain.com.au, Port Macquarie is one of the fastest growing areas in NSW. No longer just attracting retirees, families are flocking here for the great schools and friendly communities.

Across Australia, it is the fourth most searched for town on domain.com.au.Demand is not just from home-buyers but those looking for a great investment. Most price ranges are selling fast and occasionally sight-unseen. It’s certainly a seller’s market.


The DA approvals are expected in May 2018 at which point the developer will either on sell the site or refinance the equity out to repay the investors their capital of $750,000 plus 30% fixed dividend.

The amount borrowed depends on the valuation of the approved site and the LVR offered. This video explores the options and the assumptions.

PART 2 - SITE PLAN POST COUNCIL PRE-LODGEMENT MEETING

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