Truganina Development Fund

Fund Overview

The Folkestone Truganina Development Fund (Fund) is Folkestone’s third real estate development fund.

FFM has raised $18.25 million to develop, in Joint Venture with ID Dohertys, a circa 707 lot residential land subdivision and 3.1 hectare neighbourhood activity centre in Truganina, Melbourne (‘Project’). The Project, known as “Elements”, will be a carefully master planned community offering a selection of housing lot sizes to suit a range of buyers .

The Fund is an unlisted, closed-end single asset unit trust, established for the purpose of undertaking the Project.

Sector Residential Land Development
Location Truganina, Vic
Size Circa 720 residential lots plus a neighborhood shopping centre
Folkestone Fund Interest (%) 80
Folkesonte Co-Investment in the Fund (%) 20
JV Partner ID_Land
Marketing  Commenced November 2014

Key Dates
Allotment and Issue of Units February 2015
Construction Commencement June 2015
Lot Settlements Complete May 2018
Fund Termination June 2019

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Our Board – Folkestone Funds Management Limited

Grant Hodgetts
Non-Executive Chairman
BA, Assoc Dip Val, AAPI, MAICD
Greg Paramor AO
Managing Director
FAPI, FAICD, FRICS
Ross Strang
Non-Executive Director
LLB (HONS), MAICD
Adrian Harrington
Head of Funds Management
B.SC (HONS), FFINSA, MAICD

Our Executives – Folkestone Funds Management Limited

Greg Paramor AO
Managing Director
FAPI, FAICD, FRICS
Adrian Harrington
Head of Funds Management
B.SC (HONS), FFINSA, MAICD
Ben Dodwell
Head of Real Estate
BA (I.D.), Grad. Dip. App. Fin. SIA, DIP PROP FIN, MAICD
Travis Butcher
Chief Financial Officer – Funds
B.Acc, CA, Grad. Dip. AFI SIA
Scott Martin
Chief Financial Officer & Company Secretary
B.Com, CA
Mark Stewien
General Counsel
LL.B, BCom (Finance)

Asset Overview

The Project, known as “Elements”, will be a carefully master planned community offering a selection of housing lot sizes to suit a range of buyers.

Truganina is located approximately 20 kilometres west of the Melbourne CBD in the West Growth Corridor, one of the key Melbourne growth corridors. The area is well serviced by transport infrastructure – the new Tarneit railway station is approximately 1.5 kilometers to the south-west of the Project, with the Western Freeway and the Ring Road network close by.

The Project is an 80/20 joint venture (Joint Venture) between the Fund (80 per cent) and ID Dohertys Road Pty Limited (ID Dohertys) (20 per cent), an entity associated with ID_Land, an experienced, privately owned Melbourne based residential developer. ID_Land has undertaken a number of successful residential developments across Melbourne and this is the third joint venture between Folkestone and ID_Land. Folkestone has co-invested 18.8% in the Fund.

To visit the Elements website please click here Elements

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