I.Co Richmond

Senior Debt

$21m Gross Realisation Value

I.Co Richmond is a boutique collection of fourteen self-contained offices ideally located in the city fringe, surrounded by all the very best amenity Richmond has to offer. The industrial style finishes, flexible open spaces, contactless entry and private amenities, are all qualities that resonated particularly well with owner occupiers and investors.

Monark provided a senior debt facility with a low presale hurdle, enabling the accomplished developer to commence construction earlier than anticipated if funding was sourced from a traditional bank.

The benefits of this strategy was an accelerated development program and successfully converting buyer interest into legally binding presales during construction.