Eclipse Project, Wollongong

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The offer provides investors with the opportunity to participate as joint developers of the Eclipse apartment complex, which is Wollongong’s next generation in inner city managed and residential apartment accommodation. A 9 storey tower close the CBD and the beach. 102 apartments: - 30 residential - 72 managed.


The managed residential apartments not only capitalise on Wollongong's ever increasing demand for luxury 4½ star short-term accommodation but also provide a unique opportunity for investors as they are all fully leased to Medina Apartments, who operate a self contained apartment/hotel from the property. The residential apartments on the top five floors are designed to cater for the needs of owner-occupiers seeking more spacious, luxurious accommodation. Spectacular views and a vibrant atmosphere create the ultimate city fringe residence.


Objective & Strategy
The objective of the Fund is to maximise returns to investors through the development of the Eclipse apartment complex. Quantum Management Ltd, is the manager and responsible entity of the Fund and actively manages the development.


The manager has selected the property based upon the central location to the CBD, beach and local amenities, and will actively manage the development to maximise the value that is created through the development process. The manager has also employed multiple exit avenues for the successful sale of the completed apartments.


Key Information


Type Residential
Structure Development Syndicate
Opened/Closed-End Closed
Fund Vintage 2005
Strategy Development
Property Allocation Residential
Georgaphic Focus Wollongong
Target IRR (Gross)  
Target Leverage  
Status Closed
Life Span  
Total Investment $51,415,500
Total Value $6,806,100
Gross IRR -12.8%
Investment Multiple 0.8x
















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