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Box Hill, VIC

Commercial Office Building

The Loan is secured by a first registered mortgage over a  2 level commercial office building located within the established suburb of Box Hill, approximately 14km east of the Melbourne CBD.

The building is zoned Commercial (C1Z) and comprises an approximate lettable area of 1,560m2 plus 45 car spaces. It presents in reasonable condition and generates rental income which offsets holding costs.

The Security Property is ideally located within the Box Hill Activity Centre, Precinct F, which encourages high density development. The Borrower intends to obtain a planning permit for a high-rise mixed use development during the Loan Term.

The property benefits from frontage to Prospect Street, which has been identified under the Box Hill Structure Plan as being the major office precinct within Box Hill. Box Hill Central Shopping Centre and Railway Station (bus/train/tram) are located within 150m of the property, with Box Hill Institute, Box Hill Gardens and the Box Hill hospital precinct also within close proximity.

The purpose of the Loan was to acquire the Security Property. The Borrower has submitted to Council plans for a 31 level office tower development for the subject site. The development is proposed to include 12,407m2 of office accommodation, 244m2 of retail accommodation and 188 car spaces, 100 of which, will be contained within 4 basement levels. Approval is expected within 6 to 9 months.

The Borrower Group are highly experienced property developers and investors operating in both Australia and China. In addition to substantial unencumbered property holdings in Melbourne, the group owns a renewable battery manufacturing business in China that employs over 1,500 staff.

The Borrower group is well known to the Manager.  All facilities have been conducted in a prompt and punctual manner.

Investment Details

  • Target Return (P.A. net)
    5.55%
  • Loan to Value Ratio
    65%
  • Term to Run (Mths)
    14 Mths
  • Minimum Initial Investment
    $10,000

All Current Investments.

All loans are credit approved before being offered to investors. All target returns are net of fees.

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