An exciting opportunity is being offered to investors to participate in Fortune Phoenix’s property development syndicate. This exclusive syndicate, reserved for family and friends will realize the acquisition of a residential site suitably primed for the construction of two townhouses within the metropolitan Melbourne region.
The softening of the Melbourne property market has presented a rare opportunity to leverage off a generally resilient market to develop a $2 million project that will be intricately planned and managed by Fortune Phoenix’s experienced developers.
Fortune Phoenix has determined that market conditions are ripe for the acquisition of an established home or land parcel to develop and subdivide into two or more contemporary double story townhouses and sold during the property market upturn.
Fortune Phoenix will be the responsible custodian of the development as both the developer and project manager. Our fundamental role to maximise the success of the development include:
- Develop and ratify a robust feasibility study of potential sites for acquisition and execute the development of the site to its highest and best use to maximise profits for stakeholders.
- Seek development funding from syndicate members and financial institutions to ensure cash flow certainty from project inception to completion.
- Undertake a detailed feasibility and due diligence of the site prior to acquisition.
- Development of a functional design brief, and engagement and coordination of an Architect and associated consultants to design contemporary, modern townhouses that will add value to the project.
- Seek Planning Permit and Building Permit approval from statutory authorities and address planning conditions to ensure the desired outcomes are achieved.
- Competitively engage a builder and associated trades to construct the development to a high standard and manage the deliverables in accordance with the contract documentation.
- Engage sales and marketing professionals to maximise market exposure and increase sales success.
The development program is anticipated to take 24 months from initial syndicate subscription to sales settlement of the developed townhouses.
The total project cost is budgeted between $1.8 to $2 million of which a minimum of $1.8 million of loan guarantors and $400,000 in syndicate capital funding is required to jump start the project.
Register your interest below for more information.