Quarterly Update - February 2018

Stage 1 of PE Capital’s Amstel property project in Cranbourne is progressing very well and is scheduled for completion in April 2018. 

This is one of the 8 projects in which PE Capital’s retail and wholesale funds invest.
 
As a reminder, the project includes a 7 Eleven service station and convenience store plus a drive through Oporto restaurant and 1 further small retail food outlet.
Latest updates include:

  • The 7 Eleven building has been painted
  • The footings have been excavated and inspected for Oporto.
  • The top coat of the plastering is being applied and the sanding will be done this week
  • The panels for Oporto have been built and will be erected in the next few days and then concreting will be done in stages.
151204_CURIOUS_Amstel_LOW+RES.jpg
carcam.jpg
cam1.jpg
cam2.jpg
 

PROGRESS UPDATE

After obtaining Development Approval for the development, construction commenced in late October 2017 with an expectation that the service station would be open for business in April 2018. With a site of this kind, the land needs to be levelled and then the infrastructure put in place. As seen below the PE Capital team were there to see ground broken for the first time and as you'll see through the time elapsed photos we are on track with expected timeframes for the everything to be up and running in April.

We have also received some good news in the past week in the form of receiving planning permit approvals for a McDonald's and a childcare facility on the site. 

image004.jpg
photo+8.jpg