Pallas Capital invites eligible investors to participate in this First Mortgage Pre-Development investment opportunity located in Clifton Hill, one of Melbourne’s fastest growing suburbs adjoined by affluent suburbs of Carlton and Fitzroy.
First Mortgage Pre-Development Clifton Hill
The purpose of the loan is to refinance existing indebtedness against the properties and to allow time for the planning activities or launch a sales campaign for the sale of the site. The Development will comprise the construction of 10-storey mixed-use commercial and retail building including a full-line Woolworths as the anchor tenant.
b) Second Ranking General Security Agreement over the Borrower;
c) Corporate Guarantee provided by the unitholders of the Borrower; and
d) Personal Guarantee provided by the Personal Guarantors.
Alternative: Refinance with another land facility.
The Property benefits from immediate access to public transport with a tram stop located at the southwestern corner of the site providing connectivity between Bourke Street in the CBD and La Trobe University to the north-east.
The adjacent property, Gasworks, is a government owned site with an area of approximately 3.9 hectares that is rezoned for residential accommodation and public use.
It is expected that the Gasworks development will provide more than 1,100 apartments, a recreational and educational amenities as well as basement car parking, bringing a substantial increase in the residential catchment area for the retail and commercial facilities included within the Property.
2) Smith Street Tram Stop
3) Fitzroy Swimming Pool
4) Smith Street Retail
5) Clifton Hill Station
To speak to one of our Directors about investment opportunities that align with your portfolio requirements, please provide your contact details below.