GEM, Wyndham Vale
Indicative Development Timing24-36 months
Indicative Gross Development Value$42 million
Anticipated Return on Equitycirca 70%
GEM comprises a 155 lot residential subdivision with 2.2 hectares of mixed use land fronting Ballan Road. The property is in the fast growing Wyndham Vale corridor, with the recently completed Wyndham Vale train station 400m to the west of the property.
Consistent with our partnering strategy, CP co-invests in this asset with our investment partner Smart City Investments Australia Pty Ltd. The transaction was sourced and negotiated by CP, which also undertakes the full development management of the project.
CBD Office Building, Melbourne
Asset value$40m (December 2015)
Indicative Development TIMING48-60 months
A 12-level office building with a proposal to create a 60+ level hotel and residential spaces. CP negotiated the purchase of the site off market from a local family, arranged the equity from a Malaysian investment group and arranged 70%+ debt via a local non-bank lender. On settlement in January 2015, CP acted as asset manager.