Pallas Capital invites eligible investors to participate in this First Mortgage Pre-Development investment opportunity located in South Melbourne, an inner-city suburb in Melbourne.
First Mortgage Pre-Development South Melbourne
The purpose of the loan will be used to settle the acquisition of the Security Property; and fund pre-paid interest for nine months and the loan establishment costs.
The Proposed Development scheme will see a total NLA of about 4,660sqm comprising: ground floor retail (45sqm NLA), 17 levels of office space (4,615sqm NLA), rooftop terrace (200sqm) and four levels of basement with parking for 18 vehicles (including car stackers) and end of trip facilities. Construction is yet to commence with an estimated Practical Completion date of late 2023.
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) Anzac Railway Station
3) Royal Botanic Gardens
4) Clarendon Street Retail Precinct
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