Folkestone West Ryde Development Fund

Fund Overview

The West Ryde Development Fund was an unlisted, closed-end development fund in a 50/50 Joint Venture with Toga to develop a residential apartment and mixed-use project in West Ryde, Sydney, New South Wales.

The project, known as Central Square, comprised a mixed-use development built over 7 levels including 229 one, two and three bedroom residential apartments, and 2 levels of car-parking was completed in the August 2015.

As a result of the increase in apartments, higher than forecast sales prices and reduction in time, the return on equity increased from 32.0 per cent p.a. to more than 50.0 per cent p.a. and the equity IRR increased from 18.0 per cent p.a. to 31.0 per cent p.a.

The Project reached practical completion in June 2015 with all apartments settling in August 2015. The Fund was wound up in 2017.

Our Board – Folkestone Funds Management Limited

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

Our Executives – Folkestone Funds Management Limited

Adrian Harrington
Head of Capital & Product Development
B.SC (HONS), FFINSA, GAICD
Travis Butcher
General Manager, Finance - Diversified
B.Acc, CA, Grad. Dip. AFI SIA
Scott Martin
Head of Finance - Diversified
B.Com, CA
Mark Stewien
Head of Legal - Diversified
LL.B, BCom (Finance)

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