Strategy & vision
This project is to construct 3 Specialist Disability Accommodation (SDA) Villas in the Toowoomba suburb of Newtown. Current demand for SDA in Toowoomba is outstripping supply, with more than 150 NDIS participants expected to be seeking appropriate SDA housing in the future according to the NDIS Demand tracker.
The total loan facility for this project will be $2,260,000. The initial raise of $750,000 will be used for settlement and the first stage of construction. The remaining funds will be raised for the construction phases.
The development at 6 Gatfield Street includes two detached dwellings designed for SDA dwellings under the NDIS scheme. The project offering a total of four bedrooms, three ensuites, shared spaces, and specialized accommodations for six participants plus overnight carers. Aruma Services Limited will be the SIL provider (Supported Independent Living). The dwelling will have a mix of (x3) High Physical Support participants and (3x) Improved Liveability. Each dwelling will also have 1x onsite overnight assistance room.
Newtown is a suburb located in the city of Toowoomba, Queensland, Australia. Toowoomba is known as the “Garden City” and is situated on the Darling Downs, approximately 125 kilometres west of Brisbane. Newtown is situated to the northwest of Toowoomba’s central business district and offers a range of amenities and services to its residents.
The suburb is known for its family-friendly atmosphere and proximity to schools, parks, and shopping centres. Like much of Toowoomba, Newtown benefits from the city’s well-regarded educational institutions and healthcare facilities.
Exit strategy
The borrower will be selling the project on completion, with an agreement in place to exit with financial services and wealth management group Australian Unity.
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 2 x completed Specialist Disability Accommodation (SDA) projects in Toowoomba. They have a vision to deliver $144m in the SDA space in 10 years.