Comprising twenty spacious apartments and two retail units, ‘Luxe Apartments’ is situated within the well-regarded suburb of Surrey Hills, just 11kms east of Melbourne CBD. This convenient location is within proximity to the services, facilities and amenities across both Whitehorse Road and Mailing Road.
The expansive four-level development will demonstrate contemporary Sgourakis Architects commitment to long term quality and comfort with airy two and three-bedroom apartments and private open space in the form of courtyards and balconies. Each residence will also enjoy the benefit of a secure basement car park.
With high quality joinery and finishes the apartments will reflect luxury low maintenance living with engineered European Oak floorboards, 100% wool carpet, floating vanities, designer stone bench tops and Miele stainless steel appliances. Every resident will enjoy reverse-cycle split-system heating and cooling to living rooms, CCTV to car park and main foyer, intercom to apartments and a central gas hot water system.
This syndicate loan has been established to assist with the proposed development of mixed use ‘Luxe Apartments’ located at 1A Middlesex Road and 298 Canterbury Road, Surrey Hills. The loan to value ratio of 66.50% has been calculated using the valuation completed by M3 Property dated 24 September 2019 of $18,460,000, GST exclusive. A loan term of 20 months is required, and at the conclusion of the loan term if there is an amount outstanding the Borrower is expected to refinance with another lender.
Estimated development progress as at 30 June 2020