Acquisition &
Feasibility

Design
Approval

Construction
Approval

Construction

Completion

Project Progress

Construction on the external form of the building is largely complete with feature cladding and finishes only to be applied. Build focus now moves to complete the internal fit-out and commence external building works.  Progress by the prime contractor (Vicinity Homes) has slipped behind schedule by approximately 10 weeks, and our project completion has pushed to May 2018. This slippage has not impacted project finances.

Key achievements for period include:

• Completion of flat roofs
• Completion of eve’s and first floor guttering
• Completion of first floor cladding
• Completion of rendering – both ground and first floors
• Completion of balconys
• Plastering has commenced with Unit 1 largely completed
• Joinery has been put into production
• A re-baselined project plan has been established with the Prime Contractor.

The Sydney residential market has softened significantly in the last 12mths. Whilst this is likely to affect the sale prices, revenue forecasts during project feasibility did accomodate for a weakening market and, appear to be within current price guidance. Marketing and sales will commence in late May 2018.