Urban.com
Banner Asset Management finalise funding on $36 million t… (urban.com.au)

Neo at Newbridge, a modern townhouse development in Wallan, has finalised funding as stage 5 of construction is complete. Banner Asset Management funded 71 three and four-bedroom residences through a first mortgage development facility.

Resimax Group delivered the premium townhouse complex in partnership with Tick Homes builders and has already secured numerous sales. The dwellings form part of the master-planned Newbridge estate in the leafy town of Wallan.

Partnering with reliable builders and developers assured a smooth, efficient process that helps to address the ongoing housing crisis and the demand for urban, community living outside of metropolitan areas.

Just a short walk from Wallan train station, the townhouses are a 40-minute commute from central Melbourne. The project is located near respected schools and sports facilities and is ideal for contemporary urban living.

Spanning six stages, the project will deliver single and double-storey townhouses with high-quality, modern finishes. Banner Asset Management’s funding commenced in 2020 and has delivered strategically towards the development of Melbourne’s northern growth corridor.

The medium density project has a gross end value that totals approximately $36M, the number of presales, coupled with the popularity of this up-and-coming area, provide solid investment returns. At the commencement of funding, over 20 per cent of lots were sold.

Nicholas Lakin, Chief Lending Officer at Banner Asset Management, said,

rural populations are increasing in number, and there is a particular demand for affordable urban living beyond the CBD – we’re seeing many investors take advantage of these strategic opportunities to buy multiple properties in master-planned communities.

Each home has at least a six-star energy rating and comes complete with high-quality finishes, ensuring that the townhouses are ready to move into – which makes them an ideal residence for first-time home buyers, downsizers, and families.

This has been a smooth, high-quality process from start to finish. Working in partnership with Resimax Group and Tick Homes has made for an efficient and profitable build, and I expect Neo at Newbridge to have a tremendous impact on the Wallan community,

said Lakin.

Gareth Jones, State Development Manager at Resimax Group, said:

The high number of presales and quick settlements reflect the huge demand for properties in master planned communities. Working alongside Banner Asset Management, and our effective relationship with Tick Homes as our building partner, has ensured a rewarding outcome. Residents can now enjoy the properties for generations.