Megara is pleased to invite you to participate in a commercial and residential land investment opportunity in the suburb of Byford, Western Australia.
Village Reserve is Byford's most centrally located land estate. Steps away from one of the fastest growing town centres in the greater Perth area. Close to new schools and a proposed new town centre including a supermarket, specialty retail stores, cafes and restaurants. Home to a strip of natural parkland, tree-lined streets and quiet lanes.
Megara Fifteen Pty Ltd ("The Company") has secured the property located at Lot 9200 Abernethy Road, Byford and are providing the opportunity for a select group of investors to participate in a 24 month investment. The project is a land subdivision consisting mainly of residential (74 lots) and with some commercial area (7 lots). The Land is currently the subject of a conditional Subdivision Approval (Application 148939) from the Western Australian Planning Commission.
The Company intends to complete the civil works through sub-contractors, finalise and comply with all conditions of the Subdivision Approval and then sell the lots (expected to be a mix of off-the-plan and completed subdivision sales).
It is projected that the development through to sale of all the Subdivided Lots will occur within two years subject to market demand. Further details are as follows:
- November 2015: Settlement of Land Complete
- 1 Quarter 2016: Detailed design complete and civils contract awarded
- 3rd Quarter 2016: Civil works complete
- Late 2016: Subdivision conditions satisfied and titles issued
- Early 2017: Return of Capital
- Mid 2017: Distribution of profits
The Project is located in Byford, approximately 35 minutes from the Perth CBD in the shire of Serpentine Jarrahdale, and is just a 15 minute drive to the Kwinana Freeway (the link in to the greater Perth region), while Tonkin Highway is less than 5 minutes away.
The town of Byford offers an already established community with schools, shops, medical facilities and other essential services, as well as the future Town Centre redevelopment (Coles currently under construction) with a district shopping centre and upgraded passenger train service (currently running twice daily during peak periods). Byford is nestled at the foot of the Darling Scarp, close to restaurants, cafes, wineries and art galleries of the Serpentine Valley, as well as scenic picnic areas and bush trails in the Serpentine National Park.
The Land is known as Lot 9200 Abernethy Road, Byford, and more formally described as Lot 9200 on Deposited Plan 404821 contained in Certificate of Title Volume 2871 Folio 396. The Land is a 3.79 hectare undeveloped block which is zoned "Urban Development" under the Shire of Serpentine Jarrahdale Town Planning Scheme No. 2. Development in this zone is governed by the Byford Town Centre Structure Plan, where development consists of a mixture of commercial and Residential R60 development, as well as areas of Public Open Space and Resource Enhancement Wetland.
The major town centre development is currently occurring directly across Abernethy Road including the construction of a large Coles supermarket.
Investors will purchase Class A shares at $1 per share to investors. These shares have an estimated 23% return by February 2017.
The Company in its first round of capital offer has already raised $3,300,000 towards the purchase of the Land. It is now seeking to raise a further $650,000 from this second offering, but may accept over-subscriptions. Minimum investment amount is $5,000. There are only a limited number of retail investor places permissible in this capital raising. Accordingly, not all applications for shares will be accepted and applications for larger volumes of shares may be given preference.
Megara is proposing to offer a maximum of 4,800,000 Class A Shares (Redeemable Preference Shares) at $1 per share to investors. These Shares will have the following rights and restrictions: