Wollert Development Fund

Fund Overview

Folkestone has established the Folkestone Wollert Development Fund which in a 80/20 joint venture with ID_Land, will develop a 42 hectare residential master planned community in Melbourne’s rapidly growing Northern Growth Corridor.Wollert is located in the City of Whittlesea, approximately 25 kilometres north of the Melbourne CBD. Wollert is ideally positioned between Craigieburn and Mernda, and will essentially form a bridge between these two thriving suburbs.

The Project is on the northern side of Craigieburn Road, approximately 3 kilometres east of the Hume Freeway, the main north-south arterial route into Melbourne and 4.5 kilometres west of the proposed Outer Metropolitan Ring Road, which is planned to improve road connectivity between key employment nodes of Melbourne’s north and west.  The Project is also well located between the key employment hub of Craigieburn, Epping Plaza Regional Shopping Centre and the soon-to-open new Melbourne Fresh Produce Market. The Project is located approximately 4 kilometres east of Craigieburn, offering future residents convenient access to the existing Craigieburn Train Station.

(For more information on Amber Estate please visit www.amberwollert.com.au)

Folkestone entered into the project with ID_Land in December 2015, via a 50/50 joint venture. Now that the Wollert Precinct Structure Plan has been approved (10 February 2017), Folkestone and ID_Land intend to each sell down their position to 20% of the Project, via a capital raising to third party investors, which launched on 21 March 2017. As a result, the Folkestone Wollert Development Fund will have 80% of the project and ID_Land 20% of the project, with Folkestone’s 20% interest being held via a 25% co-investment in the Fund.

Sector Residential Land Development
Location Wollert, Vic
Size Circa 560 residential lots
Folkestone Fund Interest (%) 80
Folkesonte Co-Investment in the Fund (%) 25
JV Partner ID_Land
Marketing  Commenced November 2016
Key Dates
Allotment and Issue of Units 1 May 2017
Construction Commencement May 2017
Lot Settlements Complete February 2021
Fund Termination October 2021

Our Board – Folkestone Funds Management Limited

Grant Hodgetts
Non-Executive Chairman
BA, Assoc Dip Val, AAPI, MAICD
Greg Paramor AO
Managing Director
Ross Strang
Non-Executive Director
Adrian Harrington
Head of Funds Management

Our Executives – Folkestone Funds Management Limited

Greg Paramor AO
Managing Director
Adrian Harrington
Head of Funds Management
Ben Dodwell
Head of Real Estate
BA (I.D.), Grad. Dip. App. Fin. SIA, DIP PROP FIN, MAICD
Scott Martin
Chief Financial Officer & Company Secretary
B.Com, CA
Mark Stewien
General Counsel
LL.B, BCom (Finance)
Sean Wilson
Investment Manager
B.com, B.Bus (Real Estate Development & Valuation)

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