Shell Cove Construction Update - Nautilus Apartments

Welcome to the latest Construction Update.

We’re excited to keep you informed about how the project is progressing, give you insights into the construction process and ensure you’re up to date with the development of your new community.

We are thrilled to share the latest updates on the ongoing construction progress.

Nautilus - Scaffold status

Building A: With the installation of kitchens on Level 2 now complete, works on the robes, laundries and wet areas are currently underway. Paintwork on level 3 is complete and the floor levellers have almost finished thus allowing the kitchens to commence this week. The level 1 timber flooring is now complete and will progress to level 2 in the coming days. Tilers in the ground floor apartments have progressed well and should move to level 1 shortly. With the rough-in and pre-sheet checks now complete the plasters have been able to commence and are well underway installing wall linings and ceilings throughout level 5. Painters have commenced their initial coats on level 4. Additionally, Kone's team have finished installing the lifts and all six lifts are now fully operational.

Building B – Gym façade almost complete and landscaping status

Building B: The installation of the feature batten facade around the rooftop gym continues while they finish installing the roof top waterproofing and mechanical plant. Tilers have continued installing tiles in the wet areas of the ground floor apartments, and recently started to move into the level 1 apartments. Kitchens have been installed on every level and they should finish installing the shaving cabinets, laundries, and robes over the coming weeks. Sheeting in the lobby areas is all but complete on level 3, and the electrician has commenced their fit-off of light fitting in the level 1 apartments. Wall lining in the gym area is complete and works on the rooftop landscaping should commence over the next few weeks.

Podium & Pool status

Podium & Verge Works: Significant attention has been given to the podium and verge areas. The bulk excavation works in front of building B is underway, and they plan to have the blockwork completed by the end of the month. The pool shell has now been poured and the team are now waiting the curing period before works to complete the filter and heater installation can begin. Works on the basement storage cages is well underway and works on the basement lobby finishes should commence over the coming weeks.

Roof top screen, insulation and balast installation

Construction Timeline:

As per recent communications, the construction of Nautilus remains forecast to be complete toward the end of quarter 4 2023. The Frasers Property team are monitoring progress closely and we understand that many of you are eagerly awaiting the completion of the project. Our dedicated team in conjunction with the builder Parkview is working diligently to ensure the timely completion of all construction activities. At this point in time, our program shows that it is possible that construction completion and planned settlement may extend into early 2024.

Pre-Settlement Inspections (PSI):

Once the construction and Quality Assurance Inspections is complete, we will invite all purchasers to carry out Pre-Settlement Inspections (PSI) of their respective properties. The purpose of these inspections is to allow you to assess the final condition of your property and ensure that it meets your expectations prior to settlement.

Settlements:

Settlements are expected to commence after the completion of the PSI process. We anticipate that settlements will commence in late quarter 4 2023, although it's possible that settlements may extend into early 2024. We understand the importance of timely settlements and are committed to making every effort to ensure that settlements can occur as soon as possible.

Sunset Date Extension:

Considering the current progress and to accommodate any unforeseen circumstances that may arise, the vendor has made the decision to extend the sales contract sunset date by 6 months. The revised sunset date will be 30 June 2024.

We would like to assure you that our team is dedicated to delivering a high-quality property and facilitating a seamless settlement experience. We appreciate your patience and understanding throughout this process.

Should you have any further questions or concerns, please reach out to our customer service team. We will be happy to assist you.

Site Safety

We understand and share your growing interest and excitement as your new home begins to take shape. We are also highly committed to the safety of our purchasers and members of our construction team. Hence, we would like to remind you that at no time are any of our purchasers permitted to enter the construction site or fenced compounds, as doing so places you at risk of accident or injury.