Information Memorandum For sale by Expression of Interest November 2015
Introduction Azurium Real Estate has been engaged as an exclusive selling agent to offer for sale by Expression of Interest (EOI) this significant Mixed Use Site at Highlands, Craigieburn (Property). You have been invited to participate in a select off market campaign and we invite you to review the enclosed information in the context of your decision making. EOI closes on Friday 18 December 2015 at 4:00 PM. Investment highlights The Property is strategically located at the main entrance to the Highlands Lakeside Precinct within the award winning Highlands community. The land area available for purchase is approximately 3,551 square metres. Direct access to the Property is left in left out from Highlands Boulevard. The Property is accessible from Creekbridge Street. Road access is not permitted directly from Craigieburn Road. The Property is zoned Urban Growth Zone Schedule 1 (UGZ1) and has an applied Mixed Use Zone (MUZ). The Vendor has placed a key priority on the design outcome, to ensure development of the Property is in accordance with its vision for the Highlands community. It is proposed that the successful purchaser will provide a security performance deposit to ensure that construction is complete by December 2017. It is expected that any proposed development of the Property will be required to be approved by the Vendor and that the development will be required to be undertaken in accordance with design guidelines that will be included in the Contract of Sale. Information Memorandum / 2
Property description Highlands Property description Land area Planning Planning control: Zone: Lot C on PS 738917D 3,551 sqm Hume City Council Urban Growth Zone - Schedule 1, designated as Mixed Use / Employment land pursuant to the Craigieburn R2 Precinct Structure Plan Applied zone Mixed Use Brief description Location Regular shaped corner parcel North eastern corner of Craigieburn Road and Highlander Drive, Craigieburn Strategically located at the entrance of the Lakeside Precinct of Highlands Information Memorandum / 3
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Highlands overview Highlands is one of Australia s most successful and highly awarded master planned communities. The community is located in the heart of Craigieburn, only 27km from Melbourne CBD and approximately a 20 minute drive to Melbourne (Tullamarine) Airport. Highlands has a range of features and community services that are second to none. From its signature lake to open spaces, shopping, schools and recreational opportunities, everything you need is right at your fingertips. Shopping and amenities featured within Highlands include the Highlands Shopping Centre, Highgate recreational reserve, Highlands Hotel, and regional tennis centre. There is a strong emphasis on community living with development of a community centre, child care centres, early learning centres, and schools. The community focuses on parks and open space with an extensive array of recreational parks, reserves and conservation areas available to residents. Further information regarding Highlands can be found at https://www.stockland.com.au/residential/vic/highlands -living-at-highlands.aspx. Planning The Property is located within the Urban Growth Zone and within the Craigieburn R2 Precinct Structure Plan (PSP) which was approved in 2010. The Property is identified as a Mixed Use Precinct (Highway Service Business) within the Craigieburn R2 PSP. The Mixed Use Precinct is a opportunity to provide commercial activity that may benefit from exposure to high volumes of traffic on the main arterial road network. Flexibility needs to be maintained to enable responsiveness to the needs of the growing community. The Craigieburn Road interface is intended to provide for a non-retail activity taking benefit from passing trade and as a service business hub for the community. From an urban design perspective, it acts as a buffer to the core residential area behind it. Built form allows predominately active uses to face south of Craigieburn Road and predominately residential uses face north. Information Memorandum / 5
According to the Craigieburn R2 PSP, uses may include: o o o o o Small showrooms/warehousing (plumbing supplies, pet supplies, hardware, etc.) Light-industry (automotive trades, cottage industry/manufacture) Office (building companies, health club, call centre) Fast food Residential, not dense but could be shop-top to rear Performance requirements The Vendor has placed a key priority on the design outcome, to ensure development of the Property is in accordance with its vision at the Highlands community. It is proposed that a successful purchaser provide a security performance deposit to ensure that construction is complete by December 2017. Given the high profile location of the Property, the Vendor will be requiring a multiple storey development on the Property. It is expected that any proposed development of the Property will be required to be approved by the Vendor and adhere to the design guidelines that will be included in the Contract of Sale. Information Memorandum / 6
Sale structure The Property is for sale by Expression of Interest, closing on Friday 18 December 2015 at 4:00 PM. A Contract of Sale and Vendor s Statement are currently being prepared and will be made available to interested parties in due course. Further advice in relation to lodgement of offers will be provided with the Contract of Sale. Settlement terms for the Property may be provided on the following basis: A. 10% deposit payable upon exchange of unconditional Contract of Sale. B. The balance payable 120 days after payment of (A) above or 14 days after the plan of subdivision being registered at the Land Titles Office. It is expected that settlement will occur no later than 15 May 2016. We highly recommend this Property for your consideration as it provides an outstanding opportunity to secure a strategically located Mixed Use Site in one of Melbourne s key growth areas. For further information, please contact: AARON FISHER Senior Property Analyst Azurium Real Estate +61 407 090 990 aaron.fisher@azurium.com.au KATE ADAMS Director Azurium Real Estate +61 458 254 291 kate.adams@azurium.com.au PETER SAGAR Executive Director Azurium Real Estate +61 414 843 854 peter.sagar@azurium.com.au Azurium Real Estate Level 43, 600 Bourke Street Melbourne VIC 3000 Information Memorandum / 7
Annexures 1 Highlands masterplan 2 Plan of subdivision 3 Engineering plans Information Memorandum / 8
Disclaimer The information contained in this document ( Information ) is confidential. The information contained in this Information Memorandum is published by Azurium Pty Ltd ( Azurium ) in conjunction with the Vendor ( our Client ), and is solely to assist potential purchasers in deciding whether or not to make further enquiries with respect to the Property. The Information is for the sole use of the recipient, its consultants and advisors in its assessment of whether to take an interest in the Property. While care has been taken to provide accurate Information, Azurium or our Client do not expressly or implicitly warrant or represent that the Information is free from errors or omissions or is suitable or comprehensive enough to be used for this Property. The Information is not intended to provide express or implied recommendations in any way. The Information may include certain statements, estimates, calculations and projections which reflect various assumptions. Those assumptions may or may not prove to be correct and are not intended to be a representation as to any future matter on which the recipient can reply. The recipient should carry out its own independent investigations, assessment and analyses of the Information and the Property. Subject to any terms implied by law which cannot be excluded, Azurium and our Client accepts no responsibility or liability for any loss, damage, cost or expense (whether direct or indirect) incurred by the recipient as a result of any error, omission or misrepresentation in the Information. Azurium and our Client reserves the right to change, amend, correct or update details contained in the Information, however, Azurium and our Client has no obligation to do so. This document does not in any way constitute an offer to the recipient or a commitment to make an offer of any kind. Azurium and our Client reserve the right to terminate this process at any time at its sole discretion. Information Memorandum / 9
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