CBD Melbourne, VIC

Commercial

The Loan is secured by a first registered mortgage over a 10 storey commercial office building in Melbourne CBD. The purpose of the Loan was to assist with the acquisition of the security property.

The site is a 956m² rectangular block situated on the northern side of Little Collins Street and occupies a central location within the Western Core precinct of the Melbourne CBD.
Typical of a CBD location, the property is highly accessible via arterial roads and public transport networks.The Security Property was constructed in circa 1986 and comprises a basement car park level, ground floor and 10 upper levels. The property was refurbished in 1993 and again in 2006.

The property is currently vacant and the Borrower has engaged agents to manage the lease up of the building. The Security Property benefits from a Planning Permit granted by the City of Melbourne allowing redevelopment and demolition of the existing improvements into a mixed use building including residential hotel and retail premises over 22 levels comprising 238 rooms. The Borrower intends to focus on the lease up of the property in the short-term however may proceed with the Planning Permit at a later date.

The Borrower is one of Melbourne’s largest private real estate proprietors with a significant portfolio comprising of commercial and residential assets

Investment Details

• Target Return (P.A. net)

  5.35%

• Loan to Value Ratio

  59%

• Term to Run (Mths)

  16 Mths

• Minimum Initial Investment

  $10,000