First Mortgage Construction Brighton

Pallas Capital invites eligible investors to participate in this unique investment opportunity located in Brighton, one of Melbourne’s premium bayside suburbs.

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8.25% p.a.
Investor return net of all fees paid quarterly in arrears
17 Months
Loan term, with forecast settlement date of September 2021
68.77% LVR Limit
Of the ‘as if complete’ Gross Realisation Value

Project Details

The purpose of this construction loan is to assist with the construction of a three-storey residential building comprising thirteen apartments over the basement level carparking.

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01
Investment
$15,061,000 First Mortgage Construction Loan. The Loan will be progressively drawn as construction works are completed.
02
Security
First ranking Registered Mortgage over the Security Property; first ranking GSA over the Borrower; Company and Personal Guarantees; and Tripartite Deed between the Borrower, the Builder and the Lender in relation to the building contract for the construction works.
03
Exit Strategies
First: Sale of Completed Apartments; Second: Refinance with a Residual Stock Facility

The Location

Brighton represents one of Melbourne’s most prestigious suburbs, with all forms of residential real estate being within the upper end of Melbourne’s capital value price sector and in particular, it has an established high-end apartment sector appealing to wealthy downsizers and retirees.

The development site occupies a corner position on the south-eastern side of Male Street and the north-eastern side of Black Street. Surrounding development is predominately residential in nature characterised by large house lots comprising substantial single and two-level detached dwellings, interspersed within medium density townhouses and low-rise apartment developments.

 

Nearby Amenities
1) North Brighton Station
2) Bay Street Retail Precinct
3) Coles
4) Bossy Boots Café
5) Brighton Grammar School
6) Epworth Brighton Hospital

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discuss which of our current
range of opportunities align with
your portfolio requirements.
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