Pallas Capital invites eligible investors to participate in an Ordinary Equity investment opportunity located in one of Sydney’s most desirable eastern suburbs coastal locations.

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20.8% p.a.

Target Investor Return

Dec '24 Redemption Date

Date in which the Trustee will redeem the Ordinary Units

$5m Ordinary Units

Issue of Ordinary Units by 18 February 2022

Project Details

To lend monies to the Development Trust, which will assist in financing the purchase of the properties, the application for a Development Approval and other project costs.

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Investment

$5 million, Tranche 1 Ordinary Units.

Pallas Fees

Acquisition Fee - 4.0% of the purchase price of the properties. Development Management - $50,000 per month for the term of the investment. Capital Procurement Fee - 0.5% of debt and 2.0% of equity raised for the Project. Performance Fee - 70.0% of the Project profit after Preferred Coupons have been paid.

GRV

Total sales value (incl. GST) of completed dwellings will be around $120 million, producing a Project Profit of about $26.7 million.

The Location

The property is located in the highly sought-after Bronte, located approximately 8km east of the Sydney CBD and is located within the Waverley Local Government Area. The site benefits from neighbouring suburbs of Tamarama Beach, Bondi Beach and Bondi Junction offering immediate amenity access.

The property occupies a premium position on Hewlett Street and is afforded views of idyllic Bronte Beach. Adjoining developments in the area comprise an eclectic mix of both larger single and detached residential dwellings as well as a varied mix of multi-dwelling residential accommodation.

Nearby Amenities

1) Bronte Beach
2) Tamarama Beach
3) Bondi Beach
4) Waverley College
5) St Catherine’s School
6) Westfield, Bondi Junction

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First Mortgage Construction Rose Bay

Project Details

The Location