Wilson Lane - Millson Developments
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Wilson Lane
Information Pack
February 2020
www.wilsonlane.com.au
1
Artist’s impression. Final building may alter from the image.
Important Disclaimer:
The information contained in this ‘Wilson Lane Information Pack’ (Report) includes forward-looking statements and forecast
financial information. Jackmeester Pty Ltd (Trustee) as trustee for the Jackmeester Unit Trust’s expectations, beliefs and projections
are expressed in good faith and are believed to have a reasonable basis. There can be no assurance, however, that its
expectations, beliefs or projections will materialise, be achieved, or be accomplished. Such statements (none of which is intended
as a guarantee of performance) are subject to certain assumptions, risks and uncertainties, many of which are beyond the
Trustee's control, which could cause the actual future results to differ materially from those projected or anticipated by the Report.
Accordingly, you should not place undue reliance on the forward-looking statements and forecast financial information
contained in the Report. Nothing contained in this Report constitutes investment, legal, tax or other advice. The information does
not take into account the investment objectives, financial situation or particular needs of any recipient. Before making an
investment decision, each recipient of this Report should make its own assessment and take independent professional advice in
relation to the information and any action taken on the basis of this Report. Neither the Trustee nor its director, members,
associates or related entities, nor any other person related to the Trustee provides any representation or warranty, express or
implied, in relation to the accuracy or completeness of the information contained in the Report.
2
Wilson Lane
Named after the mid-block connection that is set to become an important pedestrian link for Bendigo, Wilson Lane
will bring a new standard of accessible and environmentally sustainable design to the heart of Bendigo.
Conveniently located within walking distance of shops, cafes, carparks, the bus commuter hub and the rail link
direct to Southern Cross Station, Wilson Lane, located at 23 Wills Street and extending through to Garsed Street,
Bendigo, will be a landmark building at the southern end of the Bendigo central business district.
Wilson Lane is in construction and is scheduled for completion mid-2021.
Artist’s impression. Final building may alter from the image.
Design Features
Artist’s impression. Final building may alter from the image.
Sustainable design
Wilson Lane will be one of Bendigo’s most environmentally responsible buildings incorporating a range of sustainability
measures to help reduce energy/water consumption and waste output and create a quality indoor environment.
Sustainability measures incorporated into the design include:
• High performance openable double glazing, designed to maximise natural light and ventilation through your
home whilst also thermally and acoustically insulating you from the outside when you need it.
• LED and sensor lighting - to minimise power usage;
• Installation of an Embedded Network - linked to a rooftop 40kw solar electricity system, which means that the
building can buy green energy at wholesale customer rates, offset the building use by what we generate and
charge each occupant for their relative consumption at a reduced relative cost;
• Electrical sub board and management - enables electric charge stations for 100% of vehicles on site;
• Centralised hot water a highly efficient Co2 heat exchanger running on a constant loop not only removes
connection fees being duplicated but means water is immediately at temperature and reduces water wastage
and heating costs.
• No Gas all cook tops are induction and the with the centralised hot water plant the building will be carbon
neutral in use
• Acoustic and thermal insulation and thermal mass - increased to ensure that occupants are always comfortable,
and the conditioned spaced below the apartments help pre condition the homes so that minimal mechanical
intervention is needed to keep the homes comfortable;
• Organic waste - on site processing into reusable fertiliser;
• Waste and recyclables - separation and private collection several times a week; and
• Convenient CBD location - reducing resident need to drive.
3
Accessible design
During the building design phase, accessibility consultants were engaged to ensure that the building is suitable for
people with mobility issues.
Whilst challenging to design and more expensive to build, we feel this feature is a unique value proposition as it makes
it the only central Bendigo development that supports residents to age in place.
Design elements seamlessly integrated include:
• set down decks and bathrooms slabs to allow water to drain away without needing to have raised hobs;
• wider doorways;
• increased circulation space in kitchens and bathrooms that allow for mobility aids; and
• ensuring that occupants can move around the entire site without ever encountering a step.
Artist’s impression of bathroom with flush lineal floor waste
Artist’s impression of recessed door track and flush paving
Connectivity
The installation of Fibre Optic Cabling will ensure the fastest possible internet connections.
4
Outdoor Park
We have incorporated “Harrison Park”, a grassed public open space, where building occupants can take a break,
enjoy lunch or a coffee and get some sunshine during the work-day.
Artist impression of Harrison Park. Final design may alter from the image.
Location
Wilson Lane is conveniently located within walking distance of shops, cafes, carparks, the bus commuter hub and
the rail link direct to Southern Cross Station. The building is less than 200m from the Railway Station and Bendigo
Market Place and 500m from the new Gov Hub site.
5
Parking
Parking studies prepared by consulting group, Trafficworks Pty Ltd as part of the building’s design process identified
1,868 public car parking spaces within 400m of the building, with 442 of those parking spaces being the minimum
observed number of vacant spaces during the study period.
The 1,868 car parking spaces excludes the car parking spaces available at the Bendigo Market Place, as these are
not strictly classified as public car parking spaces.
Source: Trafficworks.
6
Ground Level – Retail and Hospitality
The curved form of building facing Wills Street has been designed to draw your eye towards the northern edge,
whilst at Garsed Street the park is in stark contrast the commercial frontages that dominate the public realm. These
two features combine to invite pedestrians into a weather protected and vibrant laneway that will be home to
boutique retail and hospitality businesses and also serve as the private entry, to the residential levels above.
Being below what will be Bendigo’s most sought after business hub as well as three levels of housing, the laneway
will be activated by the community that share the building. This, combined with the striking form of the building
and its role as a pedestrian link from the Bendigo Market Place/ Railway Station to the historical CBD, makes it easy
to see why Wilson Lane will be a celebrated and iconic place within Bendigo.
Artist’s impression. Final building may alter from the image.
7
Ground Level and First Level – Wilson Lane Business Centre
The impact of technology on the way we all work means that the role of a work space is evolving. Wilson Lane is
designed to bring a new standard of accessible and environmentally sustainable design, is conveniently located
and will be a landmark building at the southern end of the Bendigo central business district.
The design of the building provides an opportunity for a new type of workplace that meets the evolving needs of
local medium sized professional businesses. This design will make Wilson lane the most sought-after business address
in Bendigo.
The 1990’s Office
During the 1990’s, offices were typically open from 9:00am to 5:00pm and communication was generally by office
phone, which was answered by a receptionist. Email was uncommon and snail mail, memos or facsimile were used
to send written messages. Office files were stored in a filing cabinet, and almost all meetings were face to face at
the office. Even coffee meetings were far less common than they are today.
Typical 1990’s office equipment
The 2020’s office
Today’s office is very different. Office phones are becoming much less common, direct phone lines divert to smart
phones or personal voice mail, emails can be accessed 24/7 from smart phones, data is stored and shared in the
Cloud and meetings are commonly held via Skype, Zoom or Goto, with multiple participants able to video link in from
different locations all over the world.
Today’s office equipment
8
How today’s work space is responding
Not only has technology changed the way we work and interact, but perhaps more significantly it has changed
the functions we perform and depending on the tasks we are engaged in, our office space needs vary. This can
be best illustrated in the diagram below:
The level of flexibility depicted above is generally not available for small to medium businesses as the cost of fitting
out and leasing areas that are not fully utilised is prohibitive. This is where the Wilson Lane Business Centre will provide
a unique opportunity for progressive businesses.
The Wilson Lane Business Centre vision, is to provide building occupants with facilities generally only available to larger
businesses. This is achieved by taking responsibility for delivering and managing the office areas that have less
utilisation and thus creating a flexible workspace, where people can choose from a range of spaces that better
support their activities and strengthen their connection with colleagues. This in turn helps to grow the culture and
productivity and ultimately success of businesses within the Wilson Lane Business Centre, which in turn ensures more
secure tenants for the building, well into the future.
The Wilson Lane Business Centre shared services include:
• Amenities - including male, female and disabled toilets on two levels as well as showers, personal lockers
and bike storage areas.
• Connectivity - throughout the shared zones of the building, high speed Wi-Fi and integrated technology is
provided, so that meeting room audio visual equipment and shared zone copiers will link seamlessly with
tenants’ system.
• Concierge and Client Lobby - entering from Wills St will see a staffed reception space where clients will be
greeted and can wait in a hotel lobby like setting, whilst tenants are notified of their client’s arrival. With
adjoining hospitality tenants on the ground floor, tenants’ clients will be able to access refreshments whilst
they wait.
9
Imagine is inspiration shot to help convey Concierge and Client Lobby design intent and not actual depiction of space.
• Meeting Rooms - fully furnished meeting rooms, integrated with video conferencing facilities and online
booking system, to conduct client meetings.
Imagine is inspiration shot to help convey Meeting Rooms design intent and not actual depiction of space.
10• Board Rooms - with views over the city the Wilson Lane Business Centre will have 3 connected Board Rooms
for larger team or client meetings. These rooms will be separated by acoustic panelling that can open up
to enable the rooms to transform into a training space or presentation hall for groups of over 50.
Imagine is inspiration shot to help convey Board Rooms design intent and not actual depiction of space.
• Member Lounge – much like an airport executive lounge with a fully equipped kitchen, dining hall and
lounge areas, the Member Lounge is a place where your team members can get away to make their lunch
or have a coffee, with zones that support informal meetings, private reading as well as open collaboration.
Imagine is inspiration shot to help convey Member Lounge design intent and not actual depiction of space.
11Ground Level - Proposed Layout
12First Level - Proposed Layout
13Level Two to Level Four - Residences
Spread over the top three levels with sweeping city views, the residences at Wilson Lane are best described as
elevated homes. Each home, has been designed for living, with even the smallest 2-bedroom apartment
proportioned for an 8 person dining table, 6 seat modular lounge and generous circulation around queen sized beds.
The combination of 3.0m exposed concrete ceilings, full height high performance glazed windows and sophisticated
finishes combine in an artistic balance of light and form. Beautiful materials, such wide timber floorboards, timber
joinery and an elegant marble benchtop, will weather passing trends to create timeless spaces of enduring appeal.
Properly scaled floor plans and finishes can be found in the annexed brochures for each apartment.
The following material is included to provide additional information for those readers considering purchasing an
apartment.
Apartment Price List
List Price
Appraised Estimated
Apartment Internal Deck Low High Midpoint $ per m2 Presold 2
Weekly Rent Cash flow
201 140 26 $750,000 $800,000 $775,000 $5,524 $500 $3,838
202 112 28 $675,000 $725,000 $700,000 $6,267 $475 $3,349
203 126 27 $675,000 $725,000 $700,000 $5,578 $475 $3,658
204 (sold) 117 17 $650,000 $700,000 $675,000 $5,769 Note 3
205 (sold) 120 20 $650,000 $700,000 $675,000 $5,625 Note 3
206 120 25 $675,000 $725,000 $700,000 $5,858 $475 $3,658
207 116 25 $675,000 $725,000 $700,000 $6,061 $475 $3,658
208 142 28 $775,000 $825,000 $800,000 $5,638 $525 $3,965
301(sold) 176 43 $975,000 $1,025,000 $1,000,000 $5,685 Note 3
302 151 41 $900,000 $950,000 $925,000 $6,142 $650 $5,115
303 (sold) 112 20 $575,000 $625,000 $600,000 $5,357 Note 3
304 (sold) 93 24 $575,000 $625,000 $600,000 $6,452 Note 3
305 135 61 $900,000 $950,000 $925,000 $6,837 $650 $5,115
306 166 63 $975,000 $1,025,000 $1,000,000 $6,010 $700 $5,929
401 178 49 $1,250,000 $1,350,000 $1,300,000 $7,312 $800 $3,868
402 (sold) 180 53 $1,175,000 $1,275,000 $1,225,000 $6,790 Note 3
403 172 58 $1,175,000 $1,275,000 $1,225,000 $7,110 $800 $5,390
404 (sold) 169 57 $1,250,000 $1,350,000 $1,300,000 $7,697 Note 3
TOTAL 2,524 666 $15,275,000 $16,375,000 $15,825,000 $6,270 $6,000,000+
Notes:
1. The information above is provided subject to the Important Disclaimer on page 2 of this Wilson Lane Information Pack, which
you should read. The information does not take into account the investment objectives, financial situation or particular needs
of any recipient. Before making any investment decision, you should make your own assessment and take independent
professional advice in relation to the information and any action taken on the basis of the information above.
2. The information above is based on a purchase at the midpoint of the List Price and on the assumption that the purchase is
100% debt funded at a borrowing rate of 3.25% interest only for a taxpayer on the top margin rate.
3. the sales received is commercial in confidence, however we can confirm that the negotiated price was within the list price
range
Comparison sales achieved at www.111mitchell.com.au in 2016
14Rental Appraisal
15Indicative cash flow – apartment rental
Example of Apartment 201 – other Apartments available on request.
Assumptions Cashflow Outcomes
Purchase Price $775,000 Unfurnished Furnished
Stamp Duty $42,625 Annual rent $26,000 $32,240
Rates $3,234 Management Fees -$2,080 -$2,579
Weekly Rent (unfurnished) $500 I nterest -$26,573 -$26,573
Weekly Reent furnished $620 Rates -$3,234 -$3,234
Management fee 8.00% OC Fees -$4,000 -$4,000
Tax rate (inc Medicarte Levy) 47.00% Depreciation -$19,315 -$22,165
Borrowing % 105.50% Taxable I ncome/(Loss) -$29,201 -$26,311
Loan $817,625 Tax refund/(payable) $13,725 $12,366
Loan Interest Rate 3.25% Add back depreciation (non cash) $19,315 $22,165
Net annual cashflow $3,838 $8,221
Owners Corporation Management Fees
Annual
Item Estimated Allocation Charge
Cost
Sinking Fund $25,000 3.20% $800
I nsurance $20,000 3.20% $640
Cleaning of Common Areas $15,000 3.20% $480
Electricity & Gas $10,000 3.20% $320
Waste Collection $11,000 3.20% $352
Maintenance $15,000 3.20% $480
Essential Safety Measures $15,000 3.20% $480
Management Fees $10,000 3.20% $320
Water rates $4,000 3.20% $128
TOTAL $125,000 $4,000
Depreciation schedule
Estimated
Estimted Cost Annual Annual
value
Item Useful Life outside of Depreciation Depreciation
included in
contract (unfurnished) (furnished)
Price
Capital Works 40 $544,000 $13,600 $13,600
Floor cov ering - Carpet 10 $6,400 $640 $640
Floor cov ering - Timber 15 $14,400 $960 $960
Air conditioning units 10 $20,000 $2,000 $2,000
Ov en(s) 12 $7,000 $583 $583
Rangehood 12 $2,300 $192 $192
Cooktop 10 $3,600 $360 $360
Dishw asher 10 $1,800 $180 $180
Blinds 10 $8,000 $800 $800
Fridge 12 $3,000 $250
w ashing machine & Dryer 10 $3,000 $300
Kitchen I tems 5 $2,000 $400
Furniture 13.33 $20,000 $1,500
TV & Sterio 10 $4,000 $400
TOTAL $599,500 $40,000 $19,315 $22,165
Note: The information above is provided subject to the Important Disclaimer on page 2 of this Wilson Lane Information Pack, which
you should read. The information does not take into account the investment objectives, financial situation or particular needs of
any recipient. Before making any investment decision, you should make your own assessment and take independent professional
advice in relation to the information and any action taken on the basis of the information above.
16Current CBD Residential housing listings (Feb 2020)
124
31 View St, 149 Wattle St, 288 View St, 49 Barkly St, 120 Barnard 10 Lilac St, 16B Michael 18 Waterloo 113 Wattle St, 202 Forest St,
Address Williamson
Bendigo Bendigo Bendigo Bendigo St Bendigo Bendigo St, Bendigo St, Bendigo Bendigo Bendigo
St, Bendigo
McKean Tweed McKean Tweed McKean McKean Tweed McKean
Agent DCK Ray White DCK
McGregor Sutherland McGregor Sutherland McGregor McGregor Sutherland McGregor
Federation 3 Renov ated Renov ated
House, 2 Storey Weatherboa Renov ated New 2 Storey
Storey, Spanish Victorian, Brick House, Weatherboa
Victorian/ Victorian rd Cal Brick House, Contempora Federation
commercial/ Mission Brick Semi- 2 Storey rd, semi-
Property Federation Brick Bungalow 2 Storey ry Brick
residential detached detached
Type
Bedrooms 4 4 4 4 3 4 3 3 5 4 3
Bathrooms 3 2 2 2 3 2 3 2 3 1 2
Carspaces
[covered] 2 2 1 2 3 1 2 2 1 1 2
Living Area
625 N/A 308 213 280 N/A 333 148 269 140 164
m2
Land Area
590 N/A 1518 1015 1012 618 479 N/A 630 407 660
m2
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130394334 132667458 132229958 131836570 130569994 132454794 132595742 132687358 132643470 132157222 132433414
Price $ $2,455,000 $2,200,000 $1,895,000 $1,275,000 $1,050,000 $990,000 $980,000 $895,000 $825,000 $815,000 $800,000
$ per m2
living $3,928 $6,153 $5,986 $3,750 $2,943 $6,047 $3,067 $5,821 $4,878
176-14 585 3/125
63 Garsed St, 17 Bright St, 90 Vine St, 222 Don St, 103 Queen 34C Havlin St, 6 Barry St, 50 Wills St,
Address Carnegie Hargreaves Mitchell St,
Bendigo Bendigo Bendigo Bendigo St, Bendigo Bendigo Bendigo Bendigo
Way St, Bendigo bendigo
Janelle Tweed
Agent DCK Waller Realty DCK Waller Realty DCK Barry Plant Waller Realty Luke Goggin Priority 1
Stev ens Sutherland
Renov ated
New House
Victorian, House, Victorian Weatherboa Victorian 2 Storey Victorian
New 2 Storey Victorian Brick/
Brick/ Contempora weatherboa rd Miners weatherboa Townhouse Apartment weatherboa
Town house Brick weatherboa
Property weatherboa ry, 2 Storey rd Cottage rd [new] rd
rd
Type rd
Bedrooms 3 3 3 4 3 2 4 2 3 2 4
Bathrooms 2 2 2 2 2 2 1 2 2 1 1
Carspaces
[covered] 2 2 2 2 2 0 2 2 1 1 1
Living Area
174 267 161 166 153.5 95.4 157 136 118 N/A 184
m2
Land Area
401 N/A 158 500 430 256 943 102 259 N/A 498
m2
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erty- erty- erty-
Reference erty-house- erty-house- erty-house- erty-house- erty-house- erty-house- erty-house- erty-house-
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v ic-bendigo- v ic-bendigo- v ic-bendigo- v ic-bendigo- v ic-bendigo- v ic-bendigo- v ic-bendigo- v ic-bendigo-
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132725918 131365290 132788786 132835782 130669442 131860706 132401262 132812942
126261778 131527858 132545982
Price $ $710,000 $685,000 $665,000 $659,000 $629,000 $599,500 $570,000 $545,000 $507,500 $320,000 $730,000
$ per m2
living $4,080 $2,566 $4,130 $3,970 $4,098 $6,284 $3,631 $4,007 $4,301 $3,967
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