SETTLEMENT SNAPSHOT
VALUATIONS
Ready
PURCHASER INSPECTIONS
Ready
OCCUPANCY CERTIFICATE
Occupancy has been received
TITLES
Titles are certified
CALL FOR SETTLEMENT
Settlement will be called today the 19th of June.
LATEST SETTLEMENT UPDATES
July | Information moving forward re defecting process.
We hope that your settlement journey has been smooth so far.
We are continuing to work through any remaining defects with our builder partner, Merkon, and your patience as defects are rectified is greatly appreciated.
Later this week, we will be sending each of you an individual defect list with the status of those defects which have been rectified and those which remain outstanding.
For further enquiries on current defects, please reach out to Ben De Luca (Riverlee – ben.deluca@riverlee.com.au) and Chrysa Roumelioti (Merkon – Chrysa.Roumelioti@merkon.com.au). Please don’t reach out to Property Settlements Solutions as they are not looking after ongoing defects.
Should any new defects arise within the coming 12-months, you will need to complete a defect form which can be found in your handover manual (a copy is also attached). This will need to be sent to Merkon for assessment and rectification if deemed defective.
Should you have any queries on this, please feel free to reach out via email.
June | Key Collection
Keys can be collected onsite at the following time:
- the 30th of June 4pm – 5pm
- the 3rd of July 2pm – 5pm
June | Electricity NIMs and NBN IDs
June | Settlement will be called today the 19th of June
Good news, titles are certified now.
Settlement will be called today the 19th of June and keys can be collected after settlement between 2pm and 4.30pm Monday the 3rd of July.
Please find the street addresses from the following link: street addresses.
May | Construction and settlement update for week beginning the 29th of May
Here is the update of progress at Belrose this week.
– We received SOC from Council today.
– The plan of sub is now with the titles office for review.
– Everything is tracking well on site for Occupancy Permit to be received at the end of next week.
– Finishing touches on site are also continuing with units expected to be ready for developers defect inspections by Riverlee on the 5th of June. Then ready for purchaser inspections shortly after, which we (PSS) will notify you when we can book in.
Below are some images from onsite today.
May | RIVERLEE END MAY SETTLEMENT UPDATE
Over the past few months, the construction industry has been grappling with significant challenges related to supply chain disruptions and material shortages. These issues have been prevalent across various sectors which has had widespread impact on manufacturing and subcontractor timelines. Despite our builders’ best efforts to minimise these impacts, unfortunately we have encountered further delays in the completion of Belrose North, and now anticipate for settlement to be called in the first half of June.
We want to assure you that our team is working closely with the builder to address these challenges and mitigate further impact on the project delivery timeframe.
We sincerely apologise for any inconvenience caused by these delays. Our commitment to delivering a high-quality outcome remains unwavering, and we are doing everything within our control to resolve these issues as quickly as possible.
If you have any questions or concerns please contact us at admin@settlement-solutions.com.au.
April | Valuation Booking
Valuations are now ready to be undertaken if required, please ask your valuer to contact admin@settlement-solutions.com.au.
April | Construction Update
Construction is continuing to progress well on Belrose North with all major works now complete.
Recently completed works include installation of bathroom fit outs, glazing, internal plasterboard, bi-fold doors and the elevator.
Remaining works include floor carpet tile installation, interior painting, exterior landscaping, internal driveway feature wall panelling and vertical gardens.
Unfortunately, there has been a minor delay with procuring some of the materials and also a skilled labour shortage, which has resulted in an extension to the construction program. Practical completion on the North Stage is now scheduled for late May 2023, instead of April 2023.
February | Construction Update
Welcome to the February Belrose purchaser update.
With the entire precinct now 99 per cent sold out, construction is continuing to progress well on Belrose North.
All external cladding, entrance canopies, installation of timber staircases and external windows have now been completed. Kitchenettes are being fabricated off site and will be delivered and installed over the coming weeks, with bathroom fitouts now well underway.
Unfortunately, there has been a minor delay in sourcing some materials, which has resulted in a one month extension to the construction program. Practical completion on the North stage is now scheduled for completion in early April 2023, instead of March 2023.
February | Belrose South
Excitingly, Belrose South is complete with all units now handed over to purchasers, with many already moved in and beginning to work form their spaces.
Sympathetic to its surrounds, Belrose South comprises 24 office warehouse and showroom spaces. Now complete, the result is a seamlessly integrated adaptive reuse project that re-energises the precinct with a sleek and contemporary new build, helping to bring to life an authentic community-centred environment.
We look forward to introducing you to the Belrose South community when the precinct is complete.
January | Owners Corporation
David Steny
Senior Business Development Manager
VICTORIA BODY CORPORATE SERVICES
t. (03) 8531 8100
d. (03) 8531 8186
m. 0438 993 940
e. dsteny@vbcs.com.au
a. Suite 101, Level 1, 204 Ingles St, Port Melbourne VIC 3207
CONSTRUCTION PHOTOS
SETTLEMENT JOURNEY STAGES
CONSIDER FINANCE OPTIONS
At about 2-3 months before settlement you should start to narrow down what financial options you have to settle.
Will you settle by cash, get a commercial loan, or maybe a combination?
Should you choose to finance with a loan, we recommend you appoint a broker to assist you with your applications.
VALUATIONS BEGIN
We'll let you know once your commercial property is ready for a bank valuation , usually they are required as part of your loan application.
PURCHASER INSPECTIONS
At this point construction on your new commercial property is almost complete. We will send you an invite to conduct your pre-settlement inspection.
Any defects picked up in your inspection, will be noted and passed to the builder to begin addressing.
PRE-SETTLEMENT PERIOD
At the time of your inspection it is anticipated that the Occupancy Permit and Titles will have been issued and settlement should have been called.
Your finance, either cash transfer or Bank loan, should be finalised and ready for settlement.
During this time the builder will continue to address any defects where possible.
SETTLEMENT DAY
Once settlement is called your conveyancer will assist you in preparing for your settlement.
Make sure your loan has been finalised and your cash is ready.
Once your settlement is complete the keys to your new commercial property will be available to collect.
POST SETTLEMENT
Your settlement has been finalised.
We'll pass on details of the processes and helpful information so you can get ready to occupy or lease your commercial property.
SETTLEMENT RESOURCES
YOUR SETTLEMENT CO-ORDINATOR
Felicity Smith
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