ESTIMATED COMPLETION DATE – JULY 2018

JUNE 2017

OVERVIEW :

  • Demolition and site clearing complete
  • OP works and plumbing approval submitted, awaiting approval.
  • Marketing material complete and issued to agents.
  • REA profile up and running.
  • Newspaper campaign starts 17th June and continues through school holiday period.
  • Working to finalize build price with builder for construction. Price expected by the 24thJune.

JULY 2017

OVERVIEW :

  • Civils and OP works currently underway
  • Tele communications services connected
  • Boundary retaining wall is currently underway
  • Retention tanks installed
  • 2 SALES

AUGUST 2017

OVERVIEW :

  • Ground Floor framework erected Units 1 – 5
  • Level 1 framework erected on Units 1 – 5
  • Concrete poured for all Alfresco areas
  • Staircase for Unit 1-5 to be installed by end of August
  • Colour bond roofing is now up
  • Kitchens and bathroom vanities currently being constructed off site in preparation for installation
  • 2 Sales
  • Sales & Marketing Campaign to start late August
  • Expected Completion Date: December 2017

SEPTEMBER 2017

OVERVIEW :

  • Site footings and pilings completed
  • Elevator shafts excavated
  • Preparation for basement and Level 1 Formwork completed
  • 5 sales
  • Completion Date – Feb 2018

OCTOBER 2017

OVERVIEW :

  • Ground floor footings and columns
  • Lift pit excavation, construction and backfill
  • Site establishment now complete
  • Pre start meeting with council for above ground works
  • Retaining walls and footings and stairs to the western boundary
  • Civil services (sewer/water/stormwater) to basement carpark
  • 4 Presales
  • Expected completion date May 2018
  • Completion Date – Feb 2018

NOVEMBER 2017

OVERVIEW :

  • Current & Completed Works
  • Basement Footings, retaining walls
  • Lift Shaft and columns to Level 1
  • Inground basement services installed(sewer, water, stormwater & electrical)
  • Cleared and levelled neighbouring block and construction access
  • Site establishment complete
  • Council pre-start meeting complete
  • Retaining walls to the western, front and rear boundaries

What’s coming up?

  • Basement slab being poured (230/11/17)
  • Level 1 Formwork being erected (1/12/17)
  • Level 1 structural steel being placed (13/11/17)
  • Level 1 podium concrete pour (18/12/17)

Weather report:

  • 4 “wet days”in the past month

Completion date

  • Expected completion date – July 2018

Total Apartments: 14 – Sales Activity/Update:

  • Apartment 2 – Unconditional
  • Apartment 3 – Under Contract
  • Apartment 11 – Unconditional
  • Apartment 13 – Under Contract

Property transactions and enquiry over the October and November periods have started to increase across the entire Sunshine Coast. We have limited our marketing spend over the past couple of months in preparation for the Christmas holiday period, whilst running a reduced marketing profile we have still managed to sell the sub-penthouse through door knocking any local residents with a property on the market.Through December – February we will re-launch our realestate.com listing and booked advertisements and front covers of local real-estate magazines and distributed marketing material to local coffee shops and businesses.

Buyer feedback is positive and throughout Jan/Feb and as the onsite construction works progress, we expect inquiry and transactions to increase dramatically

Comments

Delays – The architectural plans had issues around the design which had a adverse effect on the costing to build the project within the stated budget.  Three of the major builders who provided fix build prices had pulled out of the contracts which were due to more opportunities in the market to build other product at better rates. The project has now commenced and Level one completed. We have withheld personal staff and redesign certain elements of the building to retain the design yet keep the project within budget and on line with the feasibility contained within the offering.

Property transactions and enquiry over the October and November periods have started to increase across the entire Sunshine Coast. We have limited our marketing spend over the past couple of months in preparation for the Christmas holiday period, whilst running a reduced marketing profile we have still managed to sell the sub-penthouse through door knocking any local residents with a property on the market.Through December – February we will re-launch our realestate.com listing and booked advertisements and front covers of local real-estate magazines and distributed marketing material to local coffee shops and businesses.

Buyer feedback is positive and throughout Jan/Feb and as the onsite construction works progress, we expect inquiry and transactions to increase dramatically

DECEMBER 2017

OVERVIEW :

Current/ Completed works

  • Basement slab being poured
  • Level 1 formwork being erected
  • Level 1 structural steel being placed
  • Level 1 podium concrete pour due

What’s coming up?

  • Level blockwork installation:10/1/18
  • Level 2 formwork being erected: 15/1/18
  • Level 2 structural steel being placed: 22/1/18
  • Level 2 podium concrete pour: 31/1/18

Weather

  • 2 wet days in past 4 weeks

Completion date: July 2018

Sales Status:

  • Apartments 2 and 11 –  unconditional
  • Apartments 3 and 13 – under contract

JANUARY 2018

OVERVIEW :

No schedule worked commenced on site between December 21st and January 27th on the Site.

Expected Completion Date:

  • July 2018

FEBRUARY 2018

OVERVIEW :

  • Level 1 blockwork installation
  • Level 2 formwork being erected
  • Level 2 structural steel being placed
  • Level 2 podium concrete pour
  • Level 3 Slab pour complete

What’s coming up:

  • Level 2 Form up and pour lift shaft and verticals due 22/2
  • Level 2 Blockwork and corefill due 23/2
  • Level 3 Formwork being erected due 1/3
  • Level 3 Structural steel being placed 8/3

Weather Report:

  • 6 “wet days in last month

Sales Report:

  • Apartments 2 & 11 – Unconditional Contracts
  • Apartments 3 and 13 – Under Contract

Property transactions have been frustratingly slow throughout January but enquiry is still strong and working with 4 qualified buyers to get them to contract. Have had some interest enquiry on the back of some positive news around Queensland property

Expected Completion Date:

  • July 2018

MARCH 2018

OVERVIEW :

Current /Completed Works

  • Framing to Level 1 Apartments 1&2
  • Stripping to Level 2 form work
  • Poured Level 3 slab
  • Blockwork and corefill complete to Level 3
  • Basement services installed

What’s coming Up

  • Pour Level 4 slab and blockworks
  • Framework to Level 2  – Apartments 3,4 & 5
  • Complete services installation to Level 1 – Apartments 1 & 2
  • Fabricate and install windows to Level 1 – Apartments 1 & 2
  • Start services install to Level 2 – Apartments 3,4 & 5

Sales Activity:

  • Apartment 2: Unconditional
  • Apartment 3: Under Contract
  • Apartment 11: Unconditional
  • Apartment 13: Unconditional
  • Apartment 14: Under EOI

Marketing :

Property transactions and enquiry have picked up  with 5 new leads from Easter period alone and an EOI submitted on the Penthouse Apartment. Weekly and private inspections are continuing over the coming weeks to convert enquiry to sales.

Weather Report:

  • 8 “wet” days in past month

Expected Completion Date:

  • August 2018

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APRIL 2018

OVERVIEW

  • Pour level 4 slab and blockwork complete
  • Framework to level 1&2 – Apartments 1,2,3,4,& 5
  • Complete services installation to level 1 – Apartments 1 & 2 complete
  • Start services install to level 2 – Apartments 3,4, & 5

What’s Coming Up:

  • Level 4 blockwork
  • Framework to level 3 – Apartments 3,4,& 5
  • Complete services installation to level 2 – Apartments 3,4 & 5
  • Fabricate and install windows to level 1 – Apartments 1 & 2
  • Start services install to level 3 – Apartments 3,4 & 5

Weather:

  • 3 wet days in last month

Completion dates:

  • Expected completion date – August 2018

Sales Status:

  • Unconditional Contracts: Apartments 1,11 & 13
  • Under contract: Apartment 3
  • Reserved on EOI: Apartment 14

Sales Updates:

No new sales transactions have transpired since the last update. Supply is still reasonable with weekly and private inspections continuing to convert enquiry into sales.

MAY 2018