Industria, Knoxfield, Victoria
Folkestone announced in April 2015 that it has agreed terms to enter into a second 50/50 joint venture with Wilmac Properties to develop approximately 88 strata office/warehouse/retail mews in Knoxfield, Victoria.
Knoxfield is 27 kilometres south-east of the Melbourne CBD and the site lies within an established business park precinct with excellent access to the Eastlink and M1 Motorways.
The Knoxfield site was acquired on deferred settlement terms (March 2016). As at 30 June 2017, all 20 units in Stage 1 had settled. Stage 2 has secured 22 pre-sales, with just two remaining. A further 18 units had been pre-sold across Stages 3 and 4. Construction of Stage 2 commenced in March 2017 and is scheduled to be completed in late 2017. Stage 3 is due to commence construction in October 2017 and Stage 4 in January 2018.
|Size||Circa 88 mews|
|Folkestone Interest (%)||50|
|JV Partner||Wilmac Properties|
|Forecast Gross Revenue ($m)||33|
|Construction Commenced||May 2016|
|Forecast Completion Date||Early 2020|