A unit at Space Nova is a building under construction (expected completion 2028), so it is typically paid for in stages under the Progressive Payment Scheme. This page explains how progressive payments work for a strata industrial purchase at 21 New Industrial Road.
Under the Progressive Payment Scheme, you pay for the property in instalments tied to construction milestones rather than in one lump sum. Each stage is triggered when the developer's architect certifies that the relevant phase of work is complete, and your bank disburses the corresponding portion of the loan. This staged structure means your loan is drawn down gradually, so interest accrues only on the amount disbursed at each point.
| Construction stage | % of purchase price |
|---|---|
| Upon grant of Option to Purchase (booking) | 5% |
| Upon signing Sale & Purchase Agreement (within 8 weeks) | 15% |
| Completion of foundation works | 10% |
| Completion of reinforced concrete framework | 10% |
| Completion of partition walls | 5% |
| Completion of roofing | 5% |
| Completion of door sub-frames, electrical wiring, plumbing | 5% |
| Completion of car parks, roads and drains serving the development | 5% |
| Notice of Vacant Possession (TOP) | 25% |
| On Certificate of Statutory Completion (legal completion) | 15% |
Indicative Progressive Payment Scheme stages for a building under construction. The exact schedule follows the Sale & Purchase Agreement. Confirm details with your conveyancing lawyer and bank.
For owner-occupiers and investors alike, progressive payment eases cash flow during the construction period — you are not financing the full purchase from day one. It also spreads the commitment across the build timeline through to completion in 2028. Note that GST (where applicable on industrial property) and stamp duty are handled separately; see the stamp duty & GST page.
To understand financing alongside the payment schedule, review the industrial loan information, then register your interest to receive the brochure and discuss your purchase structure with the team.
Freehold industrial like Space Nova rarely comes to market. Register now to receive the brochure, indicative price guide and balance units ahead of public release.