This Security Property is situated in the outer northern township of Beveridge approximately 40 km from Melbourne’s Central Business District with an Urban Growth Zoning under the Mitchell Planning Scheme. Beveridge is an existing rural township, adjoining the emerging residential suburbs of Kalkallo, Mickleham and Wallan. The outer northern fringe suburb of Craigieburn is located approximately 10 km to the south. The sub-scheme property adjoins rural-residential development with the immediately surrounding land also included within the recently approved Beveridge Central PSP, land further west comprises established residential development within the Mandalay Estate and further to the south is included within the proposed Beveridge South West PSP which has not yet commenced. Public transport is not available in the immediate area with the nearest railway stations including Donnybrook Railway Station approximately 7 radial km south and the Wallan Railway station which is located approximately 7 radial km north. Shopping facilities are located in the adjoining areas of Wallan to the north, incorporating local strip shopping and to the south in Craigieburn where there is the larger Craigieburn Plaza Shopping Centre. The adjoining areas of Wallan and Craigieburn also provide a number of educational facilities and recreational centres.
The Security Property comprises 44.758 hectares (110.59 acres) of developable land. The Security Property comprises the Ooranya Estate which is proposed to provide a total yield of 786 residential allotments which will be developed over 17 stages with an average size of 380 square metres.
The subdivision works are underway with the borrower utilizing their own funds to develop.
Stages 1, 4A, 4B, 7, 8 and 10 have been completed