Project Status

Sub Fund Formed:	26 July 2016
Sub Fund Wound Up:	23 Mar 2018
Total Investor Return:	18.83%
Per Annum Investor Return:	11.36% p.a.

The Sub Fund was formed on 26 July 2016 and wound up on 23 Mar 2018 with the net proceeds (representing the interests of the investors plus residual realised from the development) already distributed to investors on 23 March 2018. The Sub Fund realised a total return on investor funds of 18.83% that equates to 11.36% per annum. This Sub Fund was the very first development project undertaken by the Manager, and the successful winding up and repatriation of all investor monies together with investment return represents a key milestone for the MCCA group, one in which we acknowledge and thank you – our investors for entrusting us with managing this Sub Fund on your behalf. Following the initial project financial feasibility (undertaken back in May 2016 in collaboration with the third-party Development Manager prior to the formation of the Sub Fund and the acquisition of the land site), the Manager projected an investor return target of 15% per annum. This initial projection was based on a Sub Fund period (from formation to wind-up) of fifteen (15) months. The actual Sub Fund period (from formation to wind-up) was nineteen (19) months and twentyeight (28) days. As a regulated (such as, the Sub Fund assets being held by an independent custodian and the Sub Fund financial records being independently audited annually) retail scheme that provided access to Australian residential property development profits at an passive investment entry starting from $50,000, the 11.36% per annum return on investment distributed for this Sub Fund still compares favourably on a risk-adjusted basis with other regulated retail passive investment alternatives where the investment entry starts from $50,000.

Financial Overview

Description	Actual ($)
Land Acquisition Cost	2,224,256
Development Construction Cost	1,999,430
Project’s Total Cost before budgeted contingency	4,223,686
Profit Distribution	433,081
Project’s total Selling Price	4,656,766

 

Chronology of Contruction