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Property Summary Location:                                 Kingsford, NSW Type:                                        Studio, 1, 2, 2+study apartments Expected Completion:         Mid 2010 Tenant Profile:                       Students, professional singles and couples

PROJECT DESCRIPTION

The development involves the construction of a new part four and part eight storey mixed-use building containing two levels of basement car parking (for 121 vehicles), four ground floor retail tenancies, a restaurant tenancy, ten commercial/retail tenancies on the first floor, a commercial space and 72 residential apartments.

PROJECT FEATURES

• Close to amenities such as University of NSW, Prince of Wales Hospital, Kingsford Smith Airport, Coogee Beach, Bondi Beach, Royal Randwick Race Course, Centennial Park, Golf Courses, Eastgardens Westfield, Bondi Junction Westfield, Schools, Bus Routes, Restaurants, Cafes & Shops
• Kingsford is located 7 kilometres south-east of the Sydney CBD
• Special investment benefits for Ironfish clients

INVESTMENT OUTLOOK

Capital Growth:         

• The Eastern suburbs corridor always grows well historically due to proximity to beaches and Sydney’s CBD.
• Very limited new supply of land or housing possible, but strong ongoing demand will continue to drive prices up in this convenient near-beachside suburb.

Rental Return:          

• Approximately 5% pa gross.

"X" FACTORS / KEY GROWTH DRIVERS

• It is a built up area with limited future supply of new land / development sites.
• Walking distance to one of Sydney’s best Universities (NSW), largest public and private hospitals, medical specialist “hub”, a short commute to the CBD and the airport and close to beaches.

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