Property Procurement Update – Help BACV Secure Our Community Centre

• The property at 429 Monbulk Road, Monbulk VIC 3793 is a 3,791 m² site with existing structures (residence, shed, greenhouses). Fair price range: $1.15M–$1.20M based on market benchmarks and valuation analysis.
• Located in the scenic Dandenong Ranges, the area is semi-rural, peaceful, and well-connected via Monbulk Road. It offers a culturally rich environment suitable for community gatherings, arts, and heritage programs.
• There are other community centres and temples in the vicinity. This site offers a unique opportunity for BACV to establish a permanent home.
• We have obtained legal advice confirming that BACV can lawfully acquire the property. Our constitution and DGR status were reviewed and found compliant.
• We have consulted our accountant regarding BACV’s financial position and capacity to support the acquisition.
• Discussions with the bank confirm they can lend up to 60% of the property value. To secure preapproval, we must show 40% of the purchase price in our bank account.
• A cashflow projection has been prepared. Other supporting documents are currently being finalised.
• We have received and reviewed the Vendor Statement (Section 32) from the real estate agent, confirming legal and planning conditions.
• After careful consideration, we submitted a conditional offer of $1.1M. The agent will inform us of the outcome by the end of next weekend.
• We cannot pay the initial deposit until we receive formal preapproval from the bank.

‼️ ITS VITAL TO HAVE 40% VALUE OF THE PROPERTY IN OUR BANK ACCOUNTS BY MONDAY 18 AUGUST TO GET THE PREAPPROVAL

🙏 Please come forward with generous contributions to make our dream a reality. We are so close to achieving it — your extra effort will push this opportunity over the line!