- The facility will provide end-to-end funding for the Toorak Village precinct project
- Includes the construction of 10 luxury three and four bedroom apartments
- Completion is expected in 2025
MaxCap, a major real estate financier, has provided a first mortgage land and construction facility to Orchard Piper to provide end-to-end funding for their upcoming Toorak Village project.
The Toorak and Mathoura Roads corner project will include the demolition of existing buildings and redevelopment over a three-level basement car park. It will include 10 three to four-bedroom apartments, three ground levels of retail space and three levels of commercial office space.
It will boast panoramic views of the CBD and the local Toorak area.
Toorak Village precinct is currently undergoing a major upgrade, with a range of new developments underway and a streetscape revamp next year.
The village offers a wide range of amenities including office, retail and commercial businesses in close proximity to the best schools, parks and recreation in Melbourne, less than 1.5 kilometres to the CBD.
Toorak is arguably Melbourne’s most prestigious suburb, with residential real estate prices representing the top end of the market and median asking house prices well above $2 million, according to SQM Research.
Toorak
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“Orchard Piper is an award-winning developer with extensive experience and an excellent brand in Melbourne and specifically the Toorak market. We are delighted to partner with them on this development,” said Johnny Woodhouse, MaxCap State Director – VIC.
Subject to development approval, mid-2023 is when construction is expected to commence with completion in early 2025.
EGA’s Patrick Kypreos and Matthew Philips are acting as corporate advisors to Orchard Piper, assisting both parties with completing the transaction.
