The Grand – Liverpool
The Joseph Banks Property Fund is proud to present to eligible investors the opportunity to invest in the development of The Grand – Liverpool, a development of a 4 Star hotel and residential apartments in the growing corridor of Liverpool, Sydney. The site is centrally located at Terminus and Macquarie Street, Liverpool and enjoys a high exposure in this part of Liverpool.
Project Overview
- The biggest influence on the fast-growing Liverpool is the $5.3 billion investment in Sydney’s second airport, with Liverpool located just 20 kms away and on the main train link to the city.
The Grand Liverpool’s hotel is expected to be a major recipient of the airport’s operation both in local and international tourists seeking accommodation, and it is expected that many of the LGA’s 47,000 businesses will utilise the function and restaurant facilities.
- The generously proportioned apartments will feature studies, co-working spaces, open plan living areas, while residents will have exclusive access to a gym, private gardens and terraces with panoramic views of Sydney.
It is proposed to raise $21m in the form of units to fund this development.
Aiming to provide investors access to high returns by joint venturing with experienced developers on projects of above average market returns.
EXPECTED RETURN TO INVESTORS
An estimated minimum return of 14.30% per annum annualised forecasted return from a profit share of the development, based upon the current approved 17 Level development.
Neither The Trustee nor Investment Manager guarantee any target return or capital
INVESTMENT OBJECTIVE
To provide investors with a quality development opportunity providing for exceptional returns and at the same time limiting the development risk associated with a development.
INVESTMENT STRATEGY
To sell all the apartments and enter into a contract to sell the hotel.
FUND RAISING STRATEGY
To acquire the property and commence early-stage development activities as soon as $11.75m has been raised. Fund raising will continue until the whole $21m has been raised.
TRUST NAME
The Joseph Banks Property Fund
TRUSTEE
Quay Wholesale Fund Services Pty Ltd
ACN 647 044 602
FUND MANAGER
Solander Funds Management Pty Limited
ACN 651 267 926
OPERATIONS MANAGER
Lincolnshire Property Group Pty Limited
ACN 651 267 686
SITE AREA
The development site comprises of several separate lots amalgamated into one super lot for the purposes of developing The Grand – Liverpool.
The total site area is 2,303 sqm.
SECURITY ADDRESS
402 Macquarie Street, Liverpool NSW 2170 & 180-186 & 190 Terminus Street, Liverpool NSW 2170.
Lot 1, DP 798853, Lot 10, DP 589509,
Lots 1-2, DP 741869
ZONING
City of Liverpool Local Authority under the Planning Scheme “Liverpool Local Environmental Plan 2008”
B4 – Mixed Use Zoning
CURRENT APPROVAL
The site is currently approved for 17 Levels comprising of 192 Hotel Rooms and 72 Apartments
PROPERTY PURCHASE PRICE
Fourteen million and six hundred thousand ($14,600,000) based upon the current approved 17 Level development.
TOTAL EQUITY REQUIRED
$21m based upon the current approved 17 Level development.
DEBT FACILITY
$72,300,000 based upon the current approved 17 Level development.
Following the deployment of the equity funding supplied via the profit-sharing notes subscribed by the Fund, additional funds will be required to be sourced from non-bank commercial lenders to complete the project.
An in-principal offer has been received from a non-bank lender for debt facilities to acquire the land
The lender will require a registered first mortgage security over the project. This debt facility will be repaid once the project is completed from the sale of the hotel and apartments.
FUND RAISING STRATEGY
To acquire the property and commence early development activities as soon as $11.75m has been raised. Fund raising will continue until the total raising of $21m has been raised.
TERM
24 Months. Option to be extended for approximately six months at the Trustees discretion, if circumstances change. If either an extension or earlier expiry were to occur, the Fund Manager would advise Unitholders accordingly.
EXPECTED SETTLEMENT DATE
The expected settlement date is second quarter 2022.
MINIMUM INVESTMENT
$50,000 or as otherwise agreed with the Fund Manager.
LIQUIDITY & REDEMPTION
The Trustee does not expect the Fund or its unit holdings will be liquid during the Term.
You should consider this an illiquid investment. That is, once you invest, you cannot generally withdraw your monies until the end of the relevant investment. Units will not be quoted on any secondary market
BUILDER
The Operations Manager expects to appoint a Tier 2 builder to the project.
