MCCA Asset Management Limited (the Manager) offered investors an opportunity to invest in a boutique property development project known as The Mullum Mullum Development 42 Grant Crescent Ringwood VIC 3134 Sub Scheme Investment (Sub scheme). This investment comprises:
The development of ten architecturally designed modern villas nestled in the leafy MullumMullum
precinct along the border of Ringwood and Mitcham. Ringwood is an easily accessed,
family-friendly suburb 25km east of Melbourne, with a bushland sense of space and
up-to-the-minute shopping options.
The Sub Scheme investment comprises the acquisition of the subject land with plans and
permits from an unrelated third party for $3.072 million inclusive of costs. A further $3.358
million is required to develop the ten villas. The ten villas are expected to sell for a total
of $8.75 million.
It is expected that the Sub Scheme project will have a lifespan of 16 months from the time of
acquisition of the subject land to final settlement of the development
NOTE: $4.3 Million been raised and FUND is CLOSED.