The Trustee advises: · With wet weather and public holidays, there were only 17 work days on site in April. · Work was delayed as the contractor encountered unsuitable fill material, which had to be excavated and removed off-site; these works are continuing. · Bulk earthworks are nearing completion, with the transport of fill on […]
The Trustee is pleased to announce that civil works has commenced of site at 139 Bunya Road, Arana Hills. • The remaining tenant has vacated• The body corporate of adjoining property and neighbours notified of impending work via Surveyor• The asbestos contractor has completed asbestos removal from the house onsite, ready for demolition contractor• The […]
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 […]
The Trustee is pleased to announce 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 Lot’s 2 and 3 to a nationally recognised storage operator. The sale of the parcel of […]
We are pleased to announce 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 conclusion of the Agreement for Lease further underwrites the value of the site […]
Reflecting the increase in valuation previously disclosed to the market. The size of the required capital raising for the development of the property located at 139 Bunya Road, Arana Hills, QLD 4054 is expected to be reduced. Acknowledging some timing differences with investor applications, the Trustee has made the decision to remove the minimum subscription […]
The Trustee is pleased to announce that it has received a new valuation for the site located at 139 Bunya Road, Arana Hills, QLD 4054. The valuation was prepared on a “As Is” basis and at $7.9m. The valuation reflects a 75.5% increase in value over the agreed purchase price of $4.5m. NorthRock’s Arana Hills […]
The Trustee is pleased to announce that it has settled the acquisition of the site located at 139 Bunya Road, Arana Hills, QLD 4054. The completion of the acquisition, allows the development process to move from the preparatory stage and begin the execution of the development plan. The development plan set out in the Information […]
The trustee has committed to accrue interest on investor applications from the date investors units are issued in the Fund. Due to timing differences in some investor’s applications, the Trustee has taken the decision to lower the Fund’s minimum target capital raising to $100,000. The change to the minimum subscription will enable investors to benefit […]
NorthRock Investments is pleased to announce the third update for our NorthRock Opportunity Fund – Arana Hills. A national storage operator has entered into Heads of Agreement to acquire the land known as Lot 2, subject to an administrative conditions precedence an arrangement Please review the video as Michael Daley, Asset Manager, outlines the process […]