GOLF HEIGHTS

Construction and bringing to market of 40 units (4x1 bedroom and 36x2 bedrooms) at 7-9 Beane Street West, Gosford, NSW 2205


Days Left


$5000

Min Invest

18-24

Months

18-30%

Expected Return

31

Investors
$1,716,000 raised of $3,200,000

SUBMIT APPLICATION
* Note that this is a No Obligation Expression of interest, you get to review the Prospectus before making any decisions
** The information provided on this webpage is only a summary of the offer and may not contain all the information needed to determine if this offer is right for you. You should read the Prospectus in its entirety which can be downloaded in the Downloads section below as well as on the Project application page once you press the SUBMIT APPLICATION button.

Downloads



Reference Documents





EXPLAINER VIDEO


Project Summary


for whom

Summary

The Company is issuing the Redeemable Preference Shares under this Prospectus to raise cash to provide funding to the main SPV as loan for the construction and consequent sale of 40 units (4x1 bedroom and 36x2 bedrooms) style residences at 7-9 Beane Street West, Gosford, NSW 2250. Investors will receive a fixed Dividend between 18-30% as per the amount invested after the company receives full repayment of the loan and interest are received.


security_long

Security

The redeemable preference shareholders rank senior to ordinary shareholders of the company for returns distribution. The funds raised through this issue will be provided to the developer of the project as mezzanine debt capital. The terms and conditions of this loan is secured with a lending agreement between Qove Capital Golf Heights Gosford Ltd and Dwyer Developments Pty Ltd ATF Dwyer Property Trust. The mezzanine debts ranks above the ordinary shareholders of the development company and below any first mortgage borrowing taken by it.


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Investor Distribution

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Suburb Profile




7-9 Beane St West, Gosford, 2250, Australia



for whom

Marketability

The Government is spending more than $1b over the next four years to transform Gosford and the Central Coast region, making it more livable, more exciting and better connected. Retail, health, entertainment, recreation, education and roads will all benefit significantly from this substantial infrastructure commitment to the area. The Gosford City Centre Masterplan will encourage more people to both live and work in Gosford, the major centre of the Central Coast. It will draw people to the area with enhanced regional sporting facilities, improved public amenity and new cultural and leisure attractions. Substantial population expansion is anticipated, as is the creation of tens of thousands of jobs, including the relocation of major government offices which will drive the need for quality housing and better amenity.

Marketability

residents

Residents

According to the Central Coast Regional Plan, the Central Coast will see 75,500 more people by 2036, which will significantly impact upon Gosford, being its regional centre. The Federal Government’s relocation of the ATO and the NSW State Finance Department’s relocation to Gosford (scheduled for 2018) will result in a major increase in the local workforce, as will the upgrade to Gosford Hospital. This population growth and expansion of a skilled local workforce will drive the need for quality housing and will have a positive flow-on effect for local businesses.

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Investment Profile


type

Type


Redeemable Preference Shares.


security

Security


The redeemable preference shareholders rank senior to ordinary shareholders of the company for returns distribution. The funds raised through this issue will be provided to the developer of the project as mezzanine debt capital. The terms and conditions of this loan is secured with a lending agreement between Qove Capital Golf Heights Gosford Ltd and Dwyer Developments Pty Ltd ATF Dwyer Property Trust. The mezzanine debts ranks above the ordinary shareholders of the development company and below any first mortgage borrowing taken by it.


expected returns

Expected Returns

18-30% over the life of the project being funded.

returns paid as

Return Paid As

Dividend and Repurchase of all redeemable preference shares at face value.

Taxation

Taxation


Investment in the redeemable preference shares will have taxation impact based on your individual circumstances. We strongly encourage all investors to consider their own taxation circumstances and seek professional advice. Dividends received by Redeemable Preference Shareholders will be included in Redeemable Preference Shareholder’s assessable income as interest. The income received will be treated as interest on the basis that the Redeemable Preference Shares are debt interests for income tax purposes. The dividends that are paid cannot be franked and therefore no franking credits will be attached to the dividends or other amounts that are paid to the Redeemable Preference Shareholders. For further details please refer to the prospectus.

Project Profile


proposer

Developer


Dwyer Developments Pty Ltd as trustee for Dwyer Property Trust


duration

Duration


18-24 Months


current_status

Current Status


Project approved by Central Coast Council (formerly Gosford City Council) under DA number 49560/2016. Consultants have been engaged in order to obtain construction certificate. Marketing activities has commenced and resulted in 10% of the units being sold. Formal marketing campaign is to commence shortly and generous number of EOIs have been received form potential purchasers.

rationale

Rationale


risk

Risk


All investments carry a risk. There are a number of risks associated with an investment in the Company. Some of the key risks that may impact on the value of your investment in the Company include:
• PROPERTY MARKET DOWNTURN RISK - In recent years Property prices have grown significantly, particularly in Sydney and Melbourne. This has led to a concern that a bubble is forming in the Property market. While the principals of this project believe that this undertaking will be profitable a rapid downturn in investor sentiment can see reduction in the prices that may be achievable on sale of the units. This would impact investor returns adversely as the profits available for distribution could be lower.
• FINANCING RISK - The project has a borrowing component. There is a risk that current market bank lending criteria may change and alternative funding may be required in order to enable the project to proceed. The Company is not taking on debts itself but the Main SPV to whom it lends will be seeking additional funding.
• CONSTRUCTION DELAYS - Weather delays, Industrial action, delay from contractors, soil issues and a number of unforeseen factors can all cause to stoppages of work.
• INTEREST RATE RISK - Property prices are often susceptible to interest rate changes. Lower interest rates can lead to more purchasers entering the market driving the prices up and vice versa. Any hikes in the interest rate by the RBA can adversely impact the project by making it harder for potential buyers to access funding to purchase the property.
• BORROWER DEFAULT RISK - The Main SPV could default on its obligations to the first mortgagee leading to the first mortgagee stepping in and selling the property at auction.
• BANK LENDING POLICIES - In recent months Australian Banks have tightened the lending criteria significantly, especially for foreign home buyers. This has made it harder for both Domestic and International purchasers from acquiring the funding to buy and settle on a property purchase.
• DEPENDENCE UPON KEY PERSONNEL - The Company depends on the talent and experience of the Company's personnel as its primary asset. Should any of its key personnel leave, this may have a negative impact on the Company.
• CONTRACTUAL RISK - There is a risk that contractual counterparties, such as any technology developers and other project contractors, may default on their obligations to the Company thereby leading to delays.
• GEARING RISK - The Main SPV will borrow money from a financier to assist with the financing of the proposed development, and will give the financier security over some or all of its assets. The security provided to the financier will have priority to the security granted to this Company.
• VALUATION RISK - There is a risk that the valuation analysis undertaken by the SPV on which the decision to proceed with the loan to the Main SPV is defective and does not accurately reflect the value of the property at that time or on completion of the development.
• FEASIBILITY AND MARKET RISK - There is a risk that the management feasibility analysis on which the decision to proceed with the loan to the Main SPV is defective and does not accurately reflect the actual outcome on completion of the development.
• GENERAL ECONOMIC CONDITIONS - The Company’s operating and financial performance is influenced by a variety of general economic and business conditions including the level of inflation, interest rates and government fiscal, monetary and regulatory policies.






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How To Invest


Please read the Prospectus and complete and submit the online Application Form by clicking the SUBMIT APPLICATION button. Please make payment via EFT within 48 hours of completing the Application Form. Alternatively please contact us should you wish to make payment using Cheque.

BankCOMMONWEALTH BANK OF AUSTRALIA
Account Name
BSB 062300
Account No
ReferenceGOLF < Investor Name >

SUBMIT APPLICATION
* Note that this is a No Obligation Expression of interest, you get to review the Prospectus before making any decisions

Project FAQs


What is the Project SPV Name & ABN?

Qove Capital Golf Heights Gosford Limited
ABN 92 617 741 830

What type of company is this?

Australian Public Unlisted Company

What type of investment in this company is being offered?

On offer is the opportunity to subscribe to Preference Shares of Qove Capital Golf Heights Gosford Limited. Investments start from $5,000 and can be upto a maximum of $3,200,000.

What type of return is expected?

18-30% depending on your amount of investment. Please scroll up and refer to Investor Distribution section under PROJECT SUMMARY for the investment and return table. Details are also available in the Prospectus that you can download from this page.

What is the relationship between the company I will be investing in and the development entity?

Qove Capital Golf Heights Gosford Limited is a mezzanine lender to the development company (Dwyer Developments Pty Ltd ATF Dwyer Property Trust) under a lending agreement.

What is the rank of this company's investment in the development entity?

Qove Capital Golf Heights Gosford Limited is providing a mezzanine debt to the development entity. Therefore it ranks below any 1st Mortgagee (typically a bank) who is funding the project but above any shareholders of the development entity (the developers). This means you get your money before the developer get theirs.

What is the rank of my investment in this company?

Since you are subscribing to Redeemable Preference Shares, your investment ranks above those of the ordinary shareholders at Qove Capital Golf Heights Gosford Limited.

Once I have invested, how can I receive updates?

The PROJECT PROGRESS section on the top of this page is periodically updated and will provide relevant information and updates time to time (typically on a quarterly basis). You are welcome to email any specific questions to investor.golfheights@qovecapital.com.au or call 1300 00 14 15.

When does subcription close for this round of funding?

Subscription closes on 15 May 2017 (unless the offer is fully subscribed earlier)

I have SUBMITTED MY APPLICATION, how do I make payment?

Our preferred method of payment is by way of EFT. However, cheques and postal orders can be accepted. EFT Details are: BSB 062 300 Account No. 1048 5690 Account Name: QOVE CAPITAL GOLF HEIGHTS GOSFORD LIMITED. Please ensure you enter a reference in the prescribed format [Golf ] so that your investment can be traced when cleared. It is a good idea to keep a copy of the remittance and emailing to investor.golfheights@qovecapital.com.au