We are excited to announce an important milestone in our growth. In December 2022, we made our first development acquisition, which comprises a mix of Soho and Townhouse Complexes in Montville, Queensland. This acquisition presents a unique opportunity to provide much-needed accommodation and commercial space in the last commercial site on the main street of Montville.
Since the land acquisition, TPA has been actively working to prepare for the pre-lodgment meeting with Sunshine Coast Council (SCC), which took place in January, 2023. We have engaged a Town Planning consultant and as well as a traffic engineer to support the planning process through to the Development Approval (DA).
Award-winning architect Ewert Leaf is working on the concept design necessary for the DA application, which is targeted for approval later in 2023. The documents required for the DA application will take three to four months to prepare and will need input from expert specialists. TPA is committed to improving the project’s viability through this process to determine the optimum use for the property.
The configuration of the land has been designed into 2 blocks over 2,000 sqm. The front block on the street will be designed with a mix of commercial and residential townhouses, while the back block will consist of 2 larger blocks with 3-4-bedroom houses. This design will continue to be modified and reviewed to ensure its feasibility and return can meet our expectations.
This project represents an important milestone for TPA to be able to offer different product to our investors and cannot commence without the continued support of our investors. We look forward to offering similar opportunities to investors in the future.