MaxCap funds development of an A Grade Office Building for Golden Age at Paris end of Little Collins Street
$132 million mortgage debt facility for 28-level office
9 November 2021 – Melbourne – MaxCap Group, Australasia’s leading Real Estate financier is providing a $132 million first mortgage construction facility to assist high profile developer Golden Age Development Group with the construction of an A grade office building at 130 Little Collins Street.
MaxCap has partnered with Golden Age on dozens of projects over the past decade, a track record between developer and lender that is unparalleled in the Australian market.
Speaking about the Golden Age partnership, Brae Sokolski, Co-Founder MaxCap said, “Many lenders use rhetoric about relationships, but they only last as far as their aggregation limits or self-interest allow. At MaxCap, our relationship approach is real. It’s always been central to what we do and how we act.”
“Golden Age is a golden example. MaxCap is very proud of the award-winning projects we have worked on together. Indeed, Golden Age is a true market leader having delivered some of the most ambitious and innovative projects in Australia over the last decade. We are delighted to have such a long track record with Jeff Xu and his company and look forward to continuing this positive relationship long into the future.”
Located at the famed Paris end of the Melbourne CBD, 130 Little Collins will be an iconic 28-level commercial office development.
Designed by Cox Architecture with construction by Probuild, the offices will feature premium amenities, end of trip facilities, future-proof technology, and target a 5-star energy rating. This includes 49 office suites, three retail units, 26 car parks and services including a ground floor restaurant. The site occupies a superb corner location with frontages to Little Collins Street and Coromandel Place together with access to the eastern office core of the Melbourne CBD.
Golden Age Group Founder and Managing Director, Jeff Xu said there is currently a limited opportunity for quality office space of all sizes in the east-end of the Melbourne CBD.
“Many tenants within Melbourne’s eastern core have historically had to renew within the precinct given the lack of supply and availability but 130 Little Collins has catered to the pent up demand,” he said.
“We’re witnessing a preference towards more boutique floorplans as a result of businesses scaling down their requirements for an office, coupled with something that greater emphasizes lifestyle and wellbeing. We have very successfully targeted owner-occupier commercial tenants and have achieved 60 per cent of presale of the project since launching earlier this year,” said Jeff.
The Project is being marketed and sold by Colliers International together with Golden Age’s internal sales team.