Pallas Capital invites eligible investors to participate in this First Mortgage Construction investment opportunity located in South Melbourne, an inner-city suburb in Melbourne.
First Mortgage Construction South Melbourne
The purpose of the loan is to assist with the refinance of the existing debt against the Security Property and to fund the construction of the commercial building and tenancy fit-outs. The development, known as ‘Pallas House Melbourne’, will be an eight storey A grade commercial office building, with ground floor retail anchoring and basement car parking for 22 vehicles. Construction commenced on 1 March 2021 with an estimated Practical Completion date in July 2022.
The property is located within the premium city fringe suburb of South Melbourne, approximately 3km south of the Melbourne CBD.
The development benefits from close proximity to the Clarendon Street retail strip with the South Melbourne Market nearby, providing an eclectic mix of restaurants, cafés and shopping. Recreation reserves and facilities in close proximity include the Lakeside Stadium, Albert Park Lake, Royal Botanic Gardens, Albert Park Golf Course and Fawkner Park.
2) Melbourne Grammar School
3) Royal Botanic Gardens
4) Clarendon Street Retail Precinct
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