Strategy & vision
Torquay is a coastal suburb, located approximately 11 kilometres west of the Hervey Bay commercial and retail precinct, in the Fraser Coast Regional Council area. The project (site is 3242 sqm in total) comprises 4 vacant allotments situated on the north eastern corner of Bideford Street and Colyton Street. Bideford connects to Boat Harbour Drive and leads to Long Torquay Beach.
This project is to construct 4 high physical support SDA single storey dwellings, each comprising 3 bedrooms, 3 ensuites, open plan kitchen/dining/living, laundry and single attached carport. Each dwelling will also be accompanied by a detached single storey villa for on-site overnight assistance (OOA), which will comprise of a single bedroom, ensuite, open plan kitchen/dining/living and laundry.
The current demand in the Hervey Bay area is 30+ eligible SDA participants, 14 of which have SDA funding in their NDIS plan according to the NDIS Demand tracker (June 2024).
The project site has been acquired and construction is already underway.
Exit strategy
The borrower will be selling the project on completion, with negotiations underway with an institutional investor (conditional offer has been made).
The borrower & project team
UNITED HOUSING GROUP PTY LTD – Directors, Ryan Glaser & Cheyne Cooke. UHA is a specialist property development and management firm that provides innovative housing solutions to improve the lives of Australians living with disabilities, particularly those funded through the National Disability Insurance Scheme. Previous experience includes several completed Specialist Disability Accommodation (SDA) projects across different Queensland locations. They have a vision to deliver $144m in the SDA space in 10 years.