Ballina Development Fund
449-455 River Street,
West Ballina NSW 2478
Argus is collaborating with Cadre (the Development Manager) to develop a village style precinct, comprising 44 live-work residential units, 13 light industrial/commercial units and a 1,340sqm commercial and retail core.
The Property involves the amalgamation of two (2) lots (Lot 1 and Lot 2 of DP530616) which is currently zoned B6 – Enterprise Corridor under the Ballina Local Environmental Plan 2012. The Property has an area of 10,725sqm and is irregular in shape with an ~117m frontage to River Street and an ~195m frontage to Barlows Road.
The project seeks to leverage the ongoing shortage of housing and commercial space in the Northern Rivers area of NSW amid ongoing population growth, as the area continues to attract a mix of families and retirees, attracted by the lifestyle and economic opportunities on offer.
| Fund Status | Current |
| Project | 44 live-work residential units, 13 light industrial/commercial units and a 1,340sqm commercial and retail core. |
| Fund Term | 3 years |
| Equity Raised | $11.05m |
| Investment Structure | Single project closed end unit trust |
| Investor Return on Equity | 66.7% (forecast) |
| Investor Internal Rate of Return | 23.5% p.a. (forecast) |
