Pallas Capital invites eligible investors to participate in a unique investment opportunity for a First Mortgage Construction loan on the beachfront in Manly, NSW.

Project Overview

The White Water project involves the development of a mixed-use building with three levels of commercial office space and premium retail space. The total Net Lettable Area (NLA) is 1,789sqm, with retail tenancies covering 498sqm and office tenancies covering 1,291sqm.

The project’s Gross Realisable Value (GRV) is estimated at $77 million upon completion.

Class A Investment Offer

10.8%

p.a.

6.5% p.a. (plus BBSW) Class A Investor Return, paid monthly.
65%

LVR

Maximum LVR on the "As if Complete" Valuation (excl. GST).
24

month

Loan Term, with anticipated redemption in August 2026.*
* Subject to extensions if required.

Key Information

Loan Term and Exit Strategy

The loan term is 2 years, with the primary exit strategy being repayment through strata sales or loan refinancing upon project completion.

Sponsor / Developer

The Sponsors are the owners of Pallas Group and will be supporting the Loan with personal guarantees.

Security

1) First-ranking registered mortgage over the property;
2) First-ranking general security agreement over all present and after-acquired assets;
3) Guarantees from sponsors; and
4) Tripartite deed in respect of the building contract.

Speak to a Pallas representative to discuss how our range of investment opportunities may align with your client’s portfolio requirements.

Enquire Now