Funds & Projects.
Projects conducted by Breckenridge and its directors providing an example of our experience and track record of success for our investors and clients.
Breckenridge Funds.
Breckenridge Pittwater Private Hospital Trust
Asset value: $51 Million
Address: 4 Daydream St, Warriewood NSW 2102
Association: Breckenridge Fund
A Breckenridge managed property fund that developed, leased, and sold a high quality 85 bed sub-acute hospital on the northern beaches of Sydney delivering a circa 15% IRR to investors over the 5-year investment period.
Breckenridge Property Finance Fund No. 3
Asset value: $46 Million
Address: 21 Belgrave St, Manly NSW 2095
Association: Breckenridge Fund
A Breckenridge managed debt fund which provided a mezzanine facility to a $46 million development comprising 24 residential apartments and ground floor retail in the heart of the Sydney northern beachside suburb of Manly. The fund delivered investors an IRR of 15%.
Breckenridge Property Finance Fund No. 4
Asset value: $47 Million
Address: Railway Place, Fairfield, Victoria 3078
Association: Breckenridge Fund
A Breckenridge managed debt fund which provided a mezzanine facility to a $47 million development comprising 74 residential apartments plus two retail suites over two buildings. The fund delivered investors an IRR of 15%.
Breckenridge Newington Shopping Centre Fund
Asset value: $17.4 Million
Address: Newington Village Shopping Centre Homebush NSW Association: Breckenridge Private Mandate for offshore family office
A Breckenridge private mandate which acquired the Newington Marketplace Shopping Centre in Sydney. Located within the Olympic Village and purchased from Lend Lease the centre was pre-committed to Woolworths on a 15-year lease. Breckenridge leased the specialty stores, secured an attractive debt package, managed, and sold the centre within 4 years. The investor return on equity was over 200%.
Development Projects conducted by Breckenridge and Breckenridge Directors.
La Maison
Asset value: $60 Million
Address: 8-18 McIntryre St, Gordon NSW 2072
Association: Developer
Award winning development of 66 oversized apartments in Gordon. Managed site acquisition, planning approvals, funding prior to acquisition and then development management of building contract and project marketing and on sale of all apartments.
Monterey
Asset value: $65 Million
Address: Rangers Road and Military Road, Neutral Bay, NSW
Association: Developer
56 apartments and ground floor retail developed in busy Sydney suburb of Neutral Bay. Managed site procurement and negotiation with existing retail tenancies to vacate. Procured planning approvals, construction funding and oversaw building contractor and project marketing and retail leasing campaign.
Birdwood
Asset value: $20 Million
Address: 15-17 Birdwood Ave, Lane Cove, NSW
Association: Developer
Conducted site procurement and secured planning approval for 25 apartments with private equity finance. Development and Project management and co-ordination of sales and marketing campaign with all apartments sold prior to completion.
Finlayson
Asset value: $45 Million
Address: 17-21 Finlayson St, Lane Cove, NSW
Association: Procurement and Delivery
Conducted site procurement arranged for the settlement and development of 46 luxury apartments in Lane Cove. Development Management and Sales and Marketing services provided on behalf of private client on a profit share/performance basis.
Avoca Street Randwick
Asset value: $19 Million
Address: 173 Avoca Street, Randwick, NSW
Association: Joint Venture Procurement and Delivery
Site procurement and planning approval obtained for a 20 apartment regeneration with private equity finance. Secured planning approval and conducted development and project management as well as co-ordination of sales and marketing campaign with all apartments sold prior to completion.
Capri
Asset value: $5 Million
Address: Oxley St Bondi, NSW
Association: Joint Venture Developer
Residential refurbishment of 6 quality apartments. Obtained planning approval, construction funding and oversaw building contractor and project leasing.
Breckenridge Thornleigh Industrial Development Fund
Asset value: $4 Million
Address: Chilvers Road Thornleigh, NSW
Association: Developer
Redevelopment of industrial facility pre-leased to multinational corporate tenant, Trimble. Obtained planning approval, construction funding and oversaw building contractor, project leasing and sale.
Carey Bay Residential
Structured acquisition from a bank appointed receiver of 35 partially completed townhouse apartments purchased for $6.1 million and presold for circa $9 million delivering 35% profit to a group of HNW investors.
Projects Breckenridge Directors have Managed for External Organisations.
VQ Harbour Views Rhodes
Asset value: $450 Million
Address: 46 Walker St, Rhodes, NSW
Association: JV Developer
Due Diligence and credit assessment for preferred equity investment for the development of 700 apartments by Billbergia. Ongoing account management and overseeing of construction and sales and marketing campaign.
Sydney Campus Apartments
Asset value: $ 150M
Address: Bay St, Ultimo
Association: Debt & Equity Finance
Due diligence and credit assessment for Australia's first purpose-built student accommodation complex. The project consisted of 600 student apartments, associated facilities and ground floor retail in a heritage building. Development Funding of 100% of costs was provided with no pre-sale requirement.
Unilodge Australia
Beds: Originally 1,150 (now over 80 properties)
Address: Originally Sydney, Melbourne, Brisbane (now Australia wide and New Zealand)
Association: Cornerstone Investor in Australia’s first Student Accommodation Manager
Following on from the success of Sydney Campus Apartments and similar projects in Melbourne and Brisbane, Ged became Macquarie Bank's Head of Student Housing responsible for its initial investment into the Management Vehicle, Unilodge Australia as well as its subsequent sole ownership of the entity.
Abbotsford Cove/Liberty Grove
Asset value: $250 Million
Address: Abbotsford Cove Drive, Abbotsford and Oulton Ave Homebush
Association: Debt & Equity Finance, Marketing & Sales
Funding and account management of 460 dwellings on the Parramatta River at Abbotsford and 700 dwellings in Homebush respectively.
Parramatta Square
Asset value: $3.5 Billion
Address: Darcy St & Macquarie St, Parramatta NSW 2150
Association: Advisory/ Governance and Risk
As chair of Parramatta City Council’s independent Major Projects Advisory Committee Len had a key role in this $3.5 billion urban renewal project. The role involved independent sign off on the commerciality of the sale of Council owned land under negotiated delivery arrangements. The 275,000sqm. commercial and retail project will accommodate thousands of workers in a revitalized and expanded CBD adjacent to an enhanced transport interchange.
Woolloomooloo Finger Wharf
Asset value: $250 Million
Address: 6 Cowper Wharf Roadway, Woolloomooloo NSW 2011
Association: Finance
Arranged $250 million funding for Walker and Multiplex for this mixed use residential, hotel and retail project. The development required the rehabilitation of the disused wharf within strict environmental conditions and the creation of an integrated residential, leisure and hotel precinct.
Broadway Retail Centre
Asset value: $150 Million
Address: 1 Bay St, Ultimo NSW 2007
Association: Finance
Arranged $150 million funding for the redevelopment of this derelict retail centre. The redevelopment reversed the trend to large suburban malls and was supported by the gentrification of the surrounding suburbs. The centre set a new model for a large shopping centre without a department store anchor and an increased focus on pedestrian traffic given the reduced parking capacity.
Citicorp Centre
Asset value: $400 Million
Address: Park St, Sydney NSW 2000
Association: Finance/Funds
Arranged $400 million debt and equity funding for this office tower and retail centre linking to Town Hall station. The development was supported by a pre-lease of around 50% of the building to Citicorp. The financing role involved assisting in the finalisation of the pre-lease to mitigate debt and equity risk.
King Street Wharf
Asset value: $400 Million
Address: The Promenade, Lime St, Sydney NSW 2000
Association: Finance/Advisory
Advised Multiplex and Australand on the purchase of this area from the NSW government and secured financing for the initial stage of this mixed-use retail, residential and commercial project. The project included the re-location of commercial harbour cruise facilities from Circular Quay as well the creation of a restaurant and leisure hub in combination with residential apartments and commercial offices.
Quarry West Corporate Park
Asset value: $120 Million
Address: Clunies Ross St. Prospect
Association: Advisory/Sale
Advised Boral on the sale of this disused quarry asset for conversion into corporate office park and mixed use. The role included assisting in the valuation of the redeveloped land, reporting on various disposal options (including outright sale or joint venture in partnership with an institutional property group) and negotiating potential sale terms.
Other Projects.
Kings Langley Shopping Centre
Purchased leased and managed a convenience shopping centre pre-committed to Woolworths on a 15-year lease on behalf of an Australian institutional fund.
Mt Gravatt Corval Fund
In a joint venture with Corval purchased a Brisbane Suburban Office Building for $15.5 million. Managed the full refurbishment and re-lease over a three-year period and sold for $29.75 million providing investors a return significantly higher than forecast in the Investment Memorandum.
75 George St Parramatta Corval Office Fund
In a joint venture with Corval purchased a Parramatta Office building for $32.55million. Managed the refurbishment and re-leased over a 3-year holding period. The property was sold for $86.3 million generating returns significantly higher than forecast in the Information Memorandum.
