The Trustee is pleased to announce that the Moreton Bay Regional Council has approved Development Application No.: DA/2024/1736, at Lot 1 B 3346, 139 Bunya Road, Arana Hills.
The approval allows for the subdivision of Lot 1 into two lots.
This subdivision is consistent with the Trustee’s previous announcements, Project update 9 and Project update 8.
Update 9: The Trustee announced that the Arana Hills SPV Pty Ltd has entered into an Agreement to sell the parcel of land identified in the Northrock Opportunities Fund Arana Hills, Information Memorandum dated 22 May 2024 as Lots 2 and 3 to a nationally recognised storage operator.
Update 8: The Trustee announced that the Arana Hills SPV Pty Ltd has entered into an Agreement to Lease with an established gym operator. The gym operator will assume 100% of the proposed gym at completion, on a 15-year lease term.
The Trustees are now progressing the development.
NorthRock Investments
NorthRock Investments is the investment management arm of the wider NorthRock group which began its evolution in 2017. NorthRock Investments has engaged Real Property Advice, a member of the group to develop the site at 139 Bunya Road Arana Hills.
The Fund invests through a debt arrangement in the development of the project at 139 Bunya Road Arana Hills, Queensland.
The NorthRock Opportunities Fund – Arana Hills, is a mortgage fund offering investors a 15%pa investment opportunity secured against property.
It is expected the investment term will be circa 24 months from initial drawdown on 23 August 2024.
The Project Location
NorthRock’s Opportunities Fund Arana Hills project is located approximately 12km northwest of Brisbane’s CBD. It is predominantly residential with essential amenities and green spaces. The industrial area in Arana Hills is relatively modest compared to larger industrial hubs in the region. It primarily caters to local businesses and services that support the residential community.
Further information is set out in the Information Memorandum dated 22 May 2024.
NorthRock Communications Team
e – [email protected]
p – 1300 66 77 89
w – www.northrock.com.au