Concept demonstration. Wholesale investors only. Nothing on this site is an offer of financial products.
Osborne Park WA21 days remaining
Secured notes financing a light-industrial development in Osborne Park at a fixed 11.0% p.a. simple, repaid with principal at practical completion in month 22.
Fixed, capped return. Secured and repaid ahead of equity; capital is still at risk.
A$5.8m of A$9.5m
61%
Corrigan Yards Stage 1 is a 6,800 sq m light-industrial development on a serviced Osborne Park site, funded by a A$9.5m note facility secured by a first mortgage and a general security agreement over the developer. The developer contributes A$5.8m (the A$4.1m site plus cash equity and pre-sale deposits) beneath the facility, 64% of the end value is pre-committed, and every drawdown is certified by an independent quantity surveyor against a tested cost-to-complete.
The fixed 11.0% p.a. is the whole return: noteholders take no share of any profit, and interest accrues monthly to be paid with principal at practical completion. That return is contractual, not guaranteed: it is not a bank deposit, and if the project fails, recovery depends on the security and on the value of a part-built asset. Notes rank ahead of the developer’s equity and ahead of RWA oa’s completion fee, which is the protection on offer.
3 of 5 complete
Land acquired, developer equity contributed
Building permit issued
Programmed 31 October 2025 · 7 days earlier
Slab poured
Programmed 30 January 2026 · 12 days later
Frame and roof complete
Trusses delayed at the supplier; the builder is holding the practical completion date.
Programmed 29 May 2026 · 21 days later
Practical completion
The date the notes are repaid with accrued interest, from the realisation.
Dates are the sponsor’s own programme, recorded as they set them and kept when they change. A completed milestone is not a valuation event: the vehicle is marked by independent valuation on its own cycle, whatever the programme says.
Stated by the sponsor as at 30 June 2026
The forecast is A$150,000 above the approved budget.
51.1% of the forecast final cost has been spent: a measure of money, not of works complete.
Senior facility A$3,800,000 drawn of A$9,500,000 (40.0%), leaving A$5,700,000 undrawn.
Since 28 Feb 2026: incurred +A$4,300,000, forecast +A$150,000.
Drawdown D3 certified. Forecast lifted A$150k on services coordination; facility headroom unaffected.
A$150,000 borne by the vehicle across 1
Figures are the sponsor’s own statement at the date shown, not an independent certification. A forecast is an estimate and is expected to move; every statement is kept so the movement stays visible.
How the construction facility is staged against the build, as the sponsor records it. Claims are certified and approved by the quantity surveyor and the financier; figures are developer-reported.
| Stage | Allocated | Released | Remaining | Expected | Status | Conditions |
|---|---|---|---|---|---|---|
| Stage D1 · Site establishment and early works | Allocated A$900,000 | Released A$900,00028 Nov 2025 | Remaining A$0 | Expected 30 Nov 2025 | Status Paid | Conditions3 of 3 provided
|
| Stage D2 · Slab and in-ground services | Allocated A$1,400,000 | Released A$1,400,00020 Feb 2026 | Remaining A$0 | Expected 28 Feb 2026 | Status Paid | Conditions3 of 3 provided
|
| Stage D3 · Structural steel and frame | Allocated A$1,500,000 | Released A$1,500,00026 June 2026 | Remaining A$0 | Expected 30 June 2026 | Status Paid | Conditions3 of 3 provided
|
| Stage D4 · Roof and lockupClaim lodged; the truss supply delay pushed lockup past its expected month. | Allocated A$1,500,000 | Released — | Remaining A$1,500,000 | Expected 15 July 2026Past its expected month | Status Under review | Conditions3 of 4 provided
|
| Claim lodged; the truss supply delay pushed lockup past its expected month. | ||||||
| Stage D5 · Services fit-off and internal works | Allocated A$1,400,000 | Released — | Remaining A$1,400,000 | Expected 15 Nov 2026 | Status Pending | Conditions0 of 3 provided
|
| Stage D6 · External works and practical completion | Allocated A$1,400,000 | Released — | Remaining A$1,400,000 | Expected 30 Apr 2027 | Status Pending | Conditions0 of 3 provided
|
| Stage D7 · Retention and final claim | Allocated A$1,400,000 | Released — | Remaining A$1,400,000 | Expected 31 July 2027 | Status Pending | Conditions0 of 3 provided
|
| Total Total | Allocated A$9,500,000 | Released A$3,800,000 | Remaining A$5,700,000 | 3 of 7 paid | ||
The asset securing the notes. Notes are carried at face on the register: the fixed rate accrues and is paid with principal at completion.
Estimated value over time
3 valuations shown · the latest point is the current estimated market value
← → points · drag to pan · scroll to zoom · click pins · press 0 to reset
| Valued | Estimated value | Change vs previous | Source |
|---|---|---|---|
| 30 September 2025 | A$16.0m | — | Independent valuation · as-if-complete at underwriting |
| 15 December 2025 | A$16.2m | +1.3% | Independent valuation · as-if-complete at financial close |
| 30 April 2026 | A$16.4m | +1.2% | Independent valuation · as-if-complete |
Illustrative only, not a forecast.
This vehicle pays at completion, so there is no running distribution record and its absence is not a shortfall. Accrued interest and the repayment date are in the terms above.
A$55.00
A$110.00
A$165.00
A$202.00
Mth 6
Mth 12
Mth 18
Mth 22
| Period | Per A$1,000 note |
|---|---|
| Mth 6 | A$55.00 |
| Mth 12 | A$110.00 |
| Mth 18 | A$165.00 |
| Mth 22 | A$202.00 |
Accrued interest per A$1,000 note. Nothing is paid until practical completion, when principal and all accrued interest fall due together.
Illustrative only, not a forecast.
The path from a subscription to a distribution, in the order the deed sets out.
Wholesale status under s708 is verified before any offer document is provided.
Capital is subscribed in A$1,000 notes, settled in AUD, and recorded on the note register.
A single-purpose lending trust holds the facility and its security (a first mortgage and a general security agreement) with an independent trustee.
A fixed-price build, drawn down against QS-certified claims, with cost-to-complete tested at every drawdown.
Principal and all accrued interest are repaid ahead of developer equity and ahead of RWA oa's completion fee.
Creditor entitlements: registered security, covenants, and consent on major variations. There is no share of profit beyond the fixed rate.
Notes are not shares in RWA oa, not a deposit, and not a currency. One vehicle per asset, always.
The update feed for a vehicle is visible to signed-in investors.
The offer documents for this vehicle. Wholesale status under s708 would be verified before any of them was provided.
Information Memorandum
84 pp
Note Deed Poll & Security Trust Deed
38 pp
First Mortgage · summary of security
12 pp
Independent Valuation · Calder Harwick Valuers
61 pp
Accountant's Certificate (s708) template
3 pp
Subscription Deed
18 pp
Demo: document generation disabled.
Illustrative outcomes on the terms shown, from A$100,000 to A$1,000,000.
Estimates only: not a forecast, not advice, and not an offer. Figures are illustrative and derived from the terms shown; actual outcomes depend on the asset, the market, and the vehicle’s deed. A fixed return is contractual, not guaranteed: repayment depends on the project completing and the security holding its value.
Subscription requires verified wholesale status under s708. Sign in if you already have an account.
Developer
Previous raises, deliveries and completed vehicles on the platform.
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