Broome North

Guumbarr signed a Contract of Sale with LandCorp for the transfer of 13 vacant lots in Broome North so that the lots could be transferred to the trust by the end of 2014.  These lots are the first assets to be transferred to the Land Trust under Stage 1 of the Agreement. The two diagrams show the location of the 13 lots in “pink“.

The trust entered into a contract with H+M Tracey for the construction of two houses on two of the vacant lots.  We have arranged a low interest mortgage through IBA. These houses were completed and available on the rental market by late 2015.

The trust is also working with Department of Housing for them to project manage the construction of 6 houses on 6 vacant lots.  It is expected these 6 houses will only become available for rent in mid 2017. The 6 houses will be built on the “orange” lots shown on the second diagram

LandCorp is holding Blue Haze industrial vacant lot until the trust is ready to develop the site.  No rates needs to be paid while LandCorp holds the title.


 

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