Union Place
Botanic
Location
Jannali, Sydney
Lane Cove, Sydney
Sale Price
$74 million
$66 million
Gross Investor IRR
21% p.a.
39% p.a.
Period
2015-2019
2012-2015
Union Place
Location
Jannali, Sydney
Sale Price
$74 million
Gross Investor IRR
21% p.a.
Period
2015-2019
Botanic
Location
Lane Cove, Sydney
Sale Price
$66 million
Gross Investor IRR
39% p.a.
Period
2012-2015
Investment Rationale
- Location: Union Place and Botanic were apartment projects in strategic locations near town centres, transport links and amenities
- Early adopters: Ray White data showed that apartments were increasing in value in both locations. RW Capital reacted to the data and were first movers in undertaking apartment developments in the well-located areas
- Union Place: RW Capital identified an opportunity to transform under utilised land and air rights in Jannali into 89 apartments and a tavern development. Returns to investors were realised over two stages:
- Stage 1: 65% valuation uplift over 14 months
- Stage 2: 20.7% gross IRR over 5 years
- Botanic: RW Capital capitalised on higher density rezoning in Lane Cove and secured an option over four properties totaling 4,402 sqm for $15 million, or $190,000 per proposed apartment
- Botanic was 100% sold in six months
- Construction was completed on program and budget
- Marketing included a display suite in the heart of Lane Cove Village