About Kelkap funds — Where development expertise meets investment discipline.
Kelkap operates at the intersection of premium property development and institutional fund management. On one side, our development team acquires and transforms architecturally significant properties into exceptional homes. On the other, our fund management arm structures the capital that makes it possible — enabling sophisticated investors to participate in each project alongside us, through a licensed, regulated, and independently governed investment structure.
Investing through the Kelkap Property Fund is fundamentally different from buying property directly. Each fund class is a purpose-built unit trust — a legally structured vehicle where investor capital is pooled, held on trust by an independent ASIC-licensed custodian, and deployed against a specific property project with a defined strategy, defined costs, and a defined exit.
You are not managing a property. You are not dealing with tenants, builders, or councils directly. Kelkap — as your appointed, licensed Investment Manager — carries that operational weight, while an independent Trustee holds the assets on your behalf and maintains fiduciary oversight throughout the entire project lifecycle.You are not managing a property. You are not dealing with tenants, builders, or councils directly. Kelkap — as your appointed, licensed Investment Manager — carries that operational weight, while an independent Trustee holds the assets on your behalf and maintains fiduciary oversight throughout the entire project lifecycle.
Kelkap Pty Ltd (ACN 672 848 985) is the appointed Investment Manager of the Kelkap Property Fund. Kelkap is a Corporate Authorised Representative (CAR No. 001307532) of LeMessurier Securities Pty Ltd ABN 43 111 931 849 (AFSL 296877) — a licenced financial services framework under which Kelkap is authorised to provide fund management and investment advisory services to the Fund and its investors. This licensing means Kelkap operates within a regulated compliance environment, with obligations to investors that go beyond a standard commercial arrangement.
Kelkap's approach to each project is guided by a capital-preservation-first philosophy: conservative assumptions, independent valuations from API-qualified valuers, disciplined feasibility modelling, and robust governance — before a single dollar of investor capital is committed to any project. This discipline is embedded in our Investment Committee process, which requires multi-member approval, independent due diligence reports, and formal deliberation before any project receives the green light.
Once a project is underway, investors receive monthly reporting covering the cost-to-complete, forecasted completion date, risk register, and cash and debt position. Transparency is not an afterthought — it is built into the operating mandate of the Kelkap Property Fund.
