32 Agnes Street, Albion

 

 

 

Overview

  • Agnes St was a 5,658m² site located just 5km north of Brisbane CBD.
  • Quantum identified the site was located in an urban renewal area and our research suggested that the site could achieve an improved yield through under new planning codes.
  • Quantum secured a DA approval for the residential development in February 2007.

Objective & Strategy

  • Quantum took an option over the site and work to achieve a development approval for the residential development.
  • By taking an option on the site, Quantum was able to work through its business to plan to a point where it was confident of the outcome before committing its equity to the project.
  • Quantum onsold the site with the benefit of the improved development approval to a local developer. The sale presented an excellent IRR return on equity for the project and we chose to exit and reinvest capital in other opportunities.

Key Information

 

Type Residential apartment
Structure Development Syndicate
Opened/Closed-End Closed
Fund Vintage 2006
Strategy Development
Property Allocation Residential
Georgaphic Focus Albion
Target IRR (Gross) 156%
Target Leverage  
Status Closed
Life Span  
Total Investment $1,100,000
Total Value $1,100,000
Gross IRR 156%
Investment Multiple 2.9x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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