First Mortgage Pre-Development Clifton Hill

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.


8.0% p.a.
Investor return net of all fees paid monthly in arrears
3 Month
Loan Term, with anticipated maturity October 2022
65% LVR
Of the ‘as is’ Gross Realisation Value

Project Details

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.


The Loan amount will comprise of $9 million to be funded by the issuance of Class A Units; and $1.4 million to be funded by the issuance of Class B Units.
a) First Ranking Registered Mortgage over the Security Property;
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.
Exit Strategies
First: Refinance with a Construction facility or Sale of Site; or
Alternative: Refinance with another land facility.

The Location

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.

Nearby Amenities
1) Gasworks
2) Smith Street Tram Stop
3) Fitzroy Swimming Pool
4) Smith Street Retail
5) Clifton Hill Station

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discuss which of our current
range of opportunities align with
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Call +61 2 9000 5215 now to invest in this opportunity. Alternatively, provide your contact details below to receive the IM.