127- 133 Leicester Street, Carlton, VIC
106 Student Units, over a 9 storey building, plus a ground floor retail coffee shop and 11 car spaces.
Sophia House in Joint Venture with Spencer Lawyer Partners
Provide debt and equity to finance development of the 109 student units.The subject land formed part of a more substantial development incorporating a further site of 90 student units and undertaking both developments at the same time would strained the developer’s resources.
We introduced a group of high net worth individuals which partnered the developer providing a majority of the equity. Construction finance was provided without the requirement for presales by a private lender based upon an initial LVR of 65% of GRV.
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