2017 in Review

Project Management

Our project management team had an extremely busy 2017. A total of 88 homes were completed in 2017, 95 commenced construction and 3 new development sites were acquired. 

$40m worth of Completions in 2017:

Block 1 & 2 of 12 Westralia Gardens, Rockingham

Block 1 & 2 of 12 Westralia Gardens, Rockingham

32 townhouses at 22 Rinaldo Cresent, Coolbellup

4 townhouses at 20 Knutsford Avenue, Rivervale

41 apartments (Block 1 & 2) at 12 Westralia Gardens, Rockingham

11 single storey houses at 90 West Churchill Avenue, Munster

$37m worth of Construction Commenced in 2017:

21 townhouses at Eliza Park, Hamilton Hill

74 apartments (Block 3, 4 & 8) at 12 Westralia Gardens, Rockingham

Acquisitions / New Projects in 2017 - project values circa $49m:

8 Macrae Road, Applecross 

47 Clydesdale Street, Como 

114 Gladstone Road, Rivervale

21 Kishorn Road, Applecross

Furnished apartments are offered on some properties by our Property Management team

Furnished apartments are offered on some properties by our Property Management team

Property Management

Our property portfolio has grown rapidly to 33 properties in 2017. With several projects reaching completion in 2017, we have decided to hold onto a number of these apartments as long term rentals. These properties are managed in-house and also through external agents. Our portfolio remained at near 90-100% occupancy throughout 2017 by employing marketing strategies which aimed to secure leases prior to completion of the projects.

 

Finance

Our Finance Department had a fruitful 2017 with significant construction funding acquired along with over $6.5m in property settlements:

- Secured construction funding for Block 3 of 12 Westralia Gardens through NAB

- Secured construction funding for Block 4 of 12 Westralia Gardens through NAB

- Secured construction funding for Eliza Park, Hamilton Hill through Westpac

- Secured funding for Block 1 & 2, Westralia Gardens through St George

- Secured funding for the purchase of 8 Macrae Road, Applecross through La Trobe Finance

 

We look forward to a strong 2018 by building on the successes of 2017

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