MCCA Asset Management Limited (the Manager) offered investors an opportunity to invest in a boutique property development project known as The Mullum Mullum Development 1226 Old Burke Road Kew East VIC 3102 Sub Scheme Investment (Sub scheme). This investment comprises:
The development of three luxury boutique homes in the prestigious and tightly held Victorian
suburb of Kew East in Melbourne’s Inner East.
The Sub Scheme Investment comprises the acquisition of the subject land with plans
and permits from an unrelated third party for $2.65 million inclusive of costs.
A further $1.919 million is required to develop the three luxury homes. The total resales for
the homes are expected to total $5.90 million.
It is expected that the Sub Scheme project will have a lifespan of 12 months from the time
of acquisition of the subject land to final settlement of the development.
NOTE: $3.05 Million been raised and FUND is CLOSED.