Investment deal spotlight: Bondi Beach, NSW

May 26, 2022

May 26, 2022

May 26, 2022

Investment deal spotlight: Bondi Beach, NSW

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AltX investors were given the opportunity to be part of developing an iconic building at the heart of Sydney’s Bondi Beach – and they jumped at the chance. 

Investment Deal Summary

Address: 97 Hall St, Bondi Beach
Value:
$9.3 Million
Projected length: 15 months – construction completed in 6 months
LVR: 55%
Return: 8%
Number of investors: 45
Average investment amount: $50,000 – $75,000

97 Hall Street was home to one of Bondi’s most loved cafes for over 23 years. When the owner decided to retire in 2019, he had a vision to transform the building into a mixed-use property.

With little experience in development and a development application (DA) that was close to lapsing, his finance options were limited. What’s more, he had already demolished the café to activate the DA – and his income with it. So when he approached AltX, he needed access to quick and reliable funding.

The Opportunity

While the owner had limited development experience, the location of the project offered huge potential for this particular development. The owner had significant equity in the property, and plans for seven luxury apartments and a ground floor retail space in Bondi’s main dining precinct, minutes from Bondi Beach, would maximise the potential of the site.  

The AltX Solution 

On paper, it looked like a sound opportunity. However, a site visit and further due diligence quickly identified issues that had to be addressed before we could fund the development.

The site was landlocked, which created challenges around access, and the architect’s timber-based design wasn’t the most cost-effective, and the original plans had failed to incorporate a lift in the building. 

By bringing together our project management team and trusted builders to work closely with architects and engineers, we helped the owner overcome these issues. And within a couple of weeks, construction began. 

The Result

Thanks to the close collaboration of the AltX project management team, the builder, engineers and architects, the development was completed in only six months – returning our investors’ capital earlier than expected. Not only did investors enjoy the confidence and consistent returns of this AltX deal, but investors can be proud to have been part of the story of a new landmark building in the heart of Bondi Beach. 

Investment Deal Summary

Address: 97 Hall St, Bondi Beach
Value:
$9.3 Million
Projected length: 15 months – construction completed in 6 months
LVR: 55%
Return: 8%
Number of investors: 45
Average investment amount: $50,000 – $75,000

97 Hall Street was home to one of Bondi’s most loved cafes for over 23 years. When the owner decided to retire in 2019, he had a vision to transform the building into a mixed-use property.

With little experience in development and a development application (DA) that was close to lapsing, his finance options were limited. What’s more, he had already demolished the café to activate the DA – and his income with it. So when he approached AltX, he needed access to quick and reliable funding.

The Opportunity

While the owner had limited development experience, the location of the project offered huge potential for this particular development. The owner had significant equity in the property, and plans for seven luxury apartments and a ground floor retail space in Bondi’s main dining precinct, minutes from Bondi Beach, would maximise the potential of the site.  

The AltX Solution 

On paper, it looked like a sound opportunity. However, a site visit and further due diligence quickly identified issues that had to be addressed before we could fund the development.

The site was landlocked, which created challenges around access, and the architect’s timber-based design wasn’t the most cost-effective, and the original plans had failed to incorporate a lift in the building. 

By bringing together our project management team and trusted builders to work closely with architects and engineers, we helped the owner overcome these issues. And within a couple of weeks, construction began. 

The Result

Thanks to the close collaboration of the AltX project management team, the builder, engineers and architects, the development was completed in only six months – returning our investors’ capital earlier than expected. Not only did investors enjoy the confidence and consistent returns of this AltX deal, but investors can be proud to have been part of the story of a new landmark building in the heart of Bondi Beach. 

Investment Deal Summary

Address: 97 Hall St, Bondi Beach
Value:
$9.3 Million
Projected length: 15 months – construction completed in 6 months
LVR: 55%
Return: 8%
Number of investors: 45
Average investment amount: $50,000 – $75,000

97 Hall Street was home to one of Bondi’s most loved cafes for over 23 years. When the owner decided to retire in 2019, he had a vision to transform the building into a mixed-use property.

With little experience in development and a development application (DA) that was close to lapsing, his finance options were limited. What’s more, he had already demolished the café to activate the DA – and his income with it. So when he approached AltX, he needed access to quick and reliable funding.

The Opportunity

While the owner had limited development experience, the location of the project offered huge potential for this particular development. The owner had significant equity in the property, and plans for seven luxury apartments and a ground floor retail space in Bondi’s main dining precinct, minutes from Bondi Beach, would maximise the potential of the site.  

The AltX Solution 

On paper, it looked like a sound opportunity. However, a site visit and further due diligence quickly identified issues that had to be addressed before we could fund the development.

The site was landlocked, which created challenges around access, and the architect’s timber-based design wasn’t the most cost-effective, and the original plans had failed to incorporate a lift in the building. 

By bringing together our project management team and trusted builders to work closely with architects and engineers, we helped the owner overcome these issues. And within a couple of weeks, construction began. 

The Result

Thanks to the close collaboration of the AltX project management team, the builder, engineers and architects, the development was completed in only six months – returning our investors’ capital earlier than expected. Not only did investors enjoy the confidence and consistent returns of this AltX deal, but investors can be proud to have been part of the story of a new landmark building in the heart of Bondi Beach. 

Investment Deal Summary

Address: 97 Hall St, Bondi Beach
Value:
$9.3 Million
Projected length: 15 months – construction completed in 6 months
LVR: 55%
Return: 8%
Number of investors: 45
Average investment amount: $50,000 – $75,000

97 Hall Street was home to one of Bondi’s most loved cafes for over 23 years. When the owner decided to retire in 2019, he had a vision to transform the building into a mixed-use property.

With little experience in development and a development application (DA) that was close to lapsing, his finance options were limited. What’s more, he had already demolished the café to activate the DA – and his income with it. So when he approached AltX, he needed access to quick and reliable funding.

The Opportunity

While the owner had limited development experience, the location of the project offered huge potential for this particular development. The owner had significant equity in the property, and plans for seven luxury apartments and a ground floor retail space in Bondi’s main dining precinct, minutes from Bondi Beach, would maximise the potential of the site.  

The AltX Solution 

On paper, it looked like a sound opportunity. However, a site visit and further due diligence quickly identified issues that had to be addressed before we could fund the development.

The site was landlocked, which created challenges around access, and the architect’s timber-based design wasn’t the most cost-effective, and the original plans had failed to incorporate a lift in the building. 

By bringing together our project management team and trusted builders to work closely with architects and engineers, we helped the owner overcome these issues. And within a couple of weeks, construction began. 

The Result

Thanks to the close collaboration of the AltX project management team, the builder, engineers and architects, the development was completed in only six months – returning our investors’ capital earlier than expected. Not only did investors enjoy the confidence and consistent returns of this AltX deal, but investors can be proud to have been part of the story of a new landmark building in the heart of Bondi Beach. 

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AltX is an online investment platform offering alternative income – generating investments, delivered seamlessly.

Disclaimers

AltX Pty Ltd (ACN: 618 796 115, AR no: 1270087), is an authorised representative of AltX Funds Management Pty Ltd (ACN: 113 502 604, AFSL no: 291314). The information on this website has been prepared for accredited wholesale clients – only who are interested in learning about the different products they can access via AltX. This information is factual information only. Any displays of potential investments are for example purposes only, and may not actually be available to investors. It does not take into account any of your personal objectives, circumstances or needs and does not constitute financial advice. Choosing an investment is an important decision and, before making any investment decision, you should consider obtaining financial advice, always read the disclosure documents as listed against every deal on the AltX investment platform and understand the associated risks as explained as on the AltX investment platform. 

Past performance is not an indicator of future performance. Expected or forecasted returns may not reflect actual performance. Any displays of potential investment opportunities are for sample purposes only, and may not actually be available to investors.

The information on this website does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Further, none of the information contained on this website is a recommendation to invest in any securities.

AltX Pty Ltd is not a bank and is not regulated by the Australian Prudential Regulation Authority, and investing in AltX products is not the same as depositing money in a term deposit offered by a bank.

© 2024

AltX Funds Management Pty Ltd

AltX is an online investment platform offering alternative income – generating investments, delivered seamlessly.

Disclaimers

AltX Pty Ltd (ACN: 618 796 115, AR no: 1270087), is an authorised representative of AltX Funds Management Pty Ltd (ACN: 113 502 604, AFSL no: 291314). The information on this website has been prepared for accredited wholesale clients – only who are interested in learning about the different products they can access via AltX. This information is factual information only. Any displays of potential investments are for example purposes only, and may not actually be available to investors. It does not take into account any of your personal objectives, circumstances or needs and does not constitute financial advice. Choosing an investment is an important decision and, before making any investment decision, you should consider obtaining financial advice, always read the disclosure documents as listed against every deal on the AltX investment platform and understand the associated risks as explained as on the AltX investment platform. 

Past performance is not an indicator of future performance. Expected or forecasted returns may not reflect actual performance. Any displays of potential investment opportunities are for sample purposes only, and may not actually be available to investors.

The information on this website does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Further, none of the information contained on this website is a recommendation to invest in any securities.

AltX Pty Ltd is not a bank and is not regulated by the Australian Prudential Regulation Authority, and investing in AltX products is not the same as depositing money in a term deposit offered by a bank.

© 2024

AltX Funds Management Pty Ltd

AltX is an online investment platform offering alternative income – generating investments, delivered seamlessly.

Disclaimers

AltX Pty Ltd (ACN: 618 796 115, AR no: 1270087), is an authorised representative of AltX Funds Management Pty Ltd (ACN: 113 502 604, AFSL no: 291314). The information on this website has been prepared for accredited wholesale clients – only who are interested in learning about the different products they can access via AltX. This information is factual information only. Any displays of potential investments are for example purposes only, and may not actually be available to investors. It does not take into account any of your personal objectives, circumstances or needs and does not constitute financial advice. Choosing an investment is an important decision and, before making any investment decision, you should consider obtaining financial advice, always read the disclosure documents as listed against every deal on the AltX investment platform and understand the associated risks as explained as on the AltX investment platform. 

Past performance is not an indicator of future performance. Expected or forecasted returns may not reflect actual performance. Any displays of potential investment opportunities are for sample purposes only, and may not actually be available to investors.

The information on this website does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Further, none of the information contained on this website is a recommendation to invest in any securities.

AltX Pty Ltd is not a bank and is not regulated by the Australian Prudential Regulation Authority, and investing in AltX products is not the same as depositing money in a term deposit offered by a bank.

© 2024

AltX Funds Management Pty Ltd

AltX is an online investment platform offering alternative income – generating investments, delivered seamlessly.

Disclaimers

AltX Pty Ltd (ACN: 618 796 115, AR no: 1270087), is an authorised representative of AltX Funds Management Pty Ltd (ACN: 113 502 604, AFSL no: 291314). The information on this website has been prepared for accredited wholesale clients – only who are interested in learning about the different products they can access via AltX. This information is factual information only. Any displays of potential investments are for example purposes only, and may not actually be available to investors. It does not take into account any of your personal objectives, circumstances or needs and does not constitute financial advice. Choosing an investment is an important decision and, before making any investment decision, you should consider obtaining financial advice, always read the disclosure documents as listed against every deal on the AltX investment platform and understand the associated risks as explained as on the AltX investment platform. 

Past performance is not an indicator of future performance. Expected or forecasted returns may not reflect actual performance. Any displays of potential investment opportunities are for sample purposes only, and may not actually be available to investors.

The information on this website does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Further, none of the information contained on this website is a recommendation to invest in any securities.

AltX Pty Ltd is not a bank and is not regulated by the Australian Prudential Regulation Authority, and investing in AltX products is not the same as depositing money in a term deposit offered by a bank.

© 2024

AltX Funds Management Pty Ltd