Open for Investment
The Loan is secured by a first registered mortgage over a 2 level commercial building permit approved for a major mixed-use redevelopment located in Toorak, VIC.
The Security Property is located in Toorak, VIC, one of Melbourne’s most prestigious suburbs and situated 5kms south east of the Melbourne CBD.
The Security Property comprises a 2 level building with a retail arcade and office suites with significant passing income. The site is a 2,658m2 land parcel zoned ‘Commercial 1 Zone’ and the property has a Planning Permit approval to undertake a significant mixed-use development.
The proposed development is an Elenberg Fraser designed building that will comprise a total of eight (8) levels with ground floor supermarket and retail shops, first floor food and beverage premises, and six (6) levels of office space and basement car parking. The Borrower has secured a pre-commit to lease with Coles Supermarkets for a 1,481m2 supermarket on the ground floor and level 1 of the proposed development.
The Borrower Group is a joint venture between a major Melbourne based developer and a significant construction company.
Target Return (P.A. net)6.75%
Loan to Value Ratio60%
Term to Run (Mths)13 Mths
Minimum Initial Investment$10,000
All Current Investments.
All loans are credit approved before being offered to investors. All target returns are net of fees.
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