This Security Property is situated in the Municipality of Hume in the suburb of Sunbury which is approximately 27 km north west of the Melbourne CBD with a Rural Conservation and Urban Growth Zoning. Situated within the Lancefield Road PSP which was recently approved and Gazetted.
Surrounding properties include general residential land, Rural conservation land and land zoned for future development. Commercial and retail centres are located nearby in the Sunbury Square Shopping Centre. Education facilities in proximity to the subject property include Kismet Park Primary School, Salesian College and Sunbury Secondary College. The Sunbury Railway Station is approximately 4.5 km south west of this site.
The Kingsfield estate is proposed for a large scale residential subdivision totalling 2,123 residential lots plus medium density residential sites, a government school and town centre site. The Kingsfield estate is broken into 3 precincts.
The Security Property (precinct 2) comprises a land area of 100.72 hectares (269.83 acres) with 46.96 hectares (116.04 acres) being developable.
An endorsed Subdivision Concept Plan proposed to yield 470 residential allotments ranging between 150 square metres and 786 square metres with an average size of 373 square metres proposed to be developed over 10 stages plus a government school site of approx. 35,000 square metres in area, three medium density sites of approx. 7,872, 14,060 and 23,640 square metres respectively in area and two local activity centres of approx. 24,120 and 8,063 square metres respectively in area.
Stages 1 to 3 are completed and settling with only a handful of allotments remaining of the original 171 residential allotments plus a school site and medium density site of 7,872 square metres.
Stages 4, 5 & 6 are near practical completion and will comprise 163 residential allotments plus a residential super lot of 14,060 square metres and 2 Local Activity Centres.
Stages 7-10 have started and will comprise 161 residential allotments.
The Security Property (Precinct 2) comprises 43.95 hectares (108.60 acres).
Development plans dated 14th of May 2021 show a total of 742 lots with a mixture of 677 conventional allotments and 65 medium density lots. Precinct 3 is proposed to be developed over stages 12-24.
The Security Property is one of three precincts over three titles that form the Kingsfield estate. These 3 properties are funded under 2 individual loans provided by RMBL Investments references as Loan ID #
1. 2958 - Precinct 1
2. 2697 - Subject loan and Precinct 2 & 3.