PrimeSpace Gungahlin Property Trust
The PrimeSpace Gungahlin Property Trust was established as a wholesale unit trust to develop 101 Residential Apts + 7,000m2 commercial space located at Gungahlin Square, Gungahlin ACT.
Summary
- Land purchased of developer that had DA for and integrated development comprising Aldi supermarket, 40 commercial tenancies and specialties and 101 residential apartments
- Property built by PBS
- Fully completed and sold in 2007
- Timeframe: 18 months – Completed 2007
- Cost to build: $48 million
- Sale Price: $52 million
- Return: 28% IRR pa
- Status: Sold
