The proposed development of 5 luxury residential apartments will consist of 3 bedrooms and 3.5 bathrooms with 2-5 secure car spaces. It is situated within an established and sought-after location in the inner suburb of Toorak, approximately 6.5 kilometres southeast of the Melbourne Central Activities district. The development is approximately 750 metres from the Toorak Village shopping centre. The development is also approximately 3 kilometres to Malvern Road retail precincts and is also close to local amenities including retail, Kooyong International Tennis Centre, recreational reserves, education institutions as well as extensive transport connectivity to the CBD.
The five luxury apartments will each have a functional floor layout consisting of an open plan kitchen and living area with an external area that wraps around the kitchen and living area. The apartments will be fitted out with luxury fittings that are seen in the apartment market. There will be a single shared lift and no communal amenities.
| Interest rate(p.a.) | 9.25% |
| Loan to value ratio (max.) | 65.31 % |
| Loan start date | 20 June 2022 |
| Expected completion date | 19 June 2024 |
| Initial debt coverage ratio | 0.00% |
| Updated debt coverage ratio | 0.00% |
| Undrawn loan amount | $9,170,000.00 |
