Maroochydore, QLD

First mortgage funding in the sum of $5,560,000 is required to assist with a refinance and provide sufficient working capital to complete the purchase of commercial premises. The security properties comprise two fully operational motels on the Sunshine Coast, QLD.

On behalf of the Fund, the Trustee will enter into the following documents relating to the Loan: a loan Agreement with the Borrower, a first-ranking registered mortgage granted by the Borrower over two security properties, a general security agreement and a personal and unlimited guarantee provided by the director of the borrowing companies.

The first security property is located at Maroochydore, approximately 4km east of Sunshine Coast CBD and comprises a two-storey, 12-room motel, situated on a regular-shaped, corner site with an area of 2,276m2. The property offers the following accommodations: 12 Rooms, a manager’s quarters (two bedrooms, one bathroom), reception, storage areas, 6 additional cabins, a swimming pool, an open car park area and covered parking for guests.

The property is zoned Medium Density Residential under Sunshine Coast Planning Scheme 2014, LGA Sunshine Coast Regional Council. Other notable landmarks within proximity of the first security property include the Sunshine Plaza (1.4km), Maroochydore Beach (2.5km), and the Sunshine Coast Airport (9km).

The second security property is located at Marcoola, approximately 10km north east of Sunshine Coast CBD. It comprises a single-storey, 12-room motel, situated on a regular-shaped, inside allotment, with an area of 1,654m2. The property offers the following accommodations: 12 Rooms, a manager’s quarters (two bedrooms), a reception, a garage, a storage/service area, a swimming pool, a gazebo, a guest barbeque area and an open car park area.

The property is zoned Low Density Residential under Sunshine Coast Planning Scheme, LGA Sunshine Coast Regional Council. Other notable landmarks within proximity of the second security property include the Sunshine Plaza (11km), Sunshine Coast Airport (2.2km) and Marcoola Beach (300m).