Main Street location with future hotel plans

Commercial - Completed

2957

This Security Property is situated on the eastern alignment of Church street, within the inner eastern Melbourne suburb of Cremorne approximately 5.8 kilometres east of Melbourne’s GPO with a Commercial 2 Zoning under the Yarra Planning Scheme.

The Security Property is situated approximately 600 metres from East Richmond station providing direct access to the Central Business District.

This property is well positioned to capitalise on the increased demand for CBD fringe occupation by corporates.

The Security Property comprises1,710 square metres of land currently improved with a showroom and mezzanine office. The ground floor comprises predominantly retail showroom space with a warehouse area at the rear of the property connected to a loading zone, with roller door access. The first floor mezzanine is accessed via a stairwell and comprise owner occupied office areas, the building has a total Gross Lettable Area of approximately 1,611 square metres.

Security Property is subject to a lease expiring 31 January 2023

A Planning Permit was issued by the Yarra City Council on the 26th of May 2021 allowing for the use and development of the land for multi-storey residential hotel (with ancillary gym and function centre), Food and Drink premises (Ground floor restaurant and roof-top bar), and two basement levels. A Proposed Net Saleable Area of 8,154 square metres.

The proposed development will accommodate 9 levels of hotel suites on top of a 2-level basement and retail on ground floor.

Maximum Loan Amount $15,600,000
Interest Rate Closed
LVR: 65% of 'as is'
Maturity Date: Closed
Original Term: 36 Months
Reference Number: 2957

You should first read and consider the PDS and TMD dated 28 February 2022 for the RMBL Mortgage Income Investments Fund available at www.rmbl.com.au/invest and consider whether the Fund meets your needs as well as the specific Supplementary PDS for any Loan(s) you wish to invest in. Investment in a specific Loan is subject to availability. Funds for investment can only be accepted by completing the Investment Application and consent is required for investment into a specific Loan.

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