Taren Point
Overview
This investment was via Quantum Property Syndicate No.2 (a registered managed investment scheme). The Scheme raised funds in June 1999 in order to exchange contracts for the purchase of the real estate, with settlement occurring in June 2000.
The syndicate purchased 2 Alexander Ave from Toyota Motor Corporation Australia Ltd. The site was Toyotas' NSW head office.
The syndicate subdivided the land into five different lots all with their own street frontage enabling individual access.
These lots were then sold, with the syndicate retaining one lot for the development of a retirement village.
The syndicate was granted Development Consent for a 289 unit retirement village, by the Sutherland Council in the second quarter of 2002 financial year.
Shortly after gaining the Development Consent contracts were exchanged for the sale of the final lot of land.
The Syndicate achieved an after tax return of 186% for investers.
Key Information
| Open Date | June 1999 |
| Close Date | Jan 2002 |
| Fund Size | 159,468 m |
| Minimum Initial Investment | N/A |
| Minimum Additional Investment | N/A |
| Distributions | N/A |
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