Residential residual stock loan – Walmer, Abbotsford, Melbourne

Salta Properties’ residential development, Walmer, is in Melbourne’s inner ring suburb of Abbotsford, approximately five kilometres east of the city centre.

Located backing onto the Yarra River near Studley Park, with direct access to the Yarra Trails and nearby amenity of Victoria Gardens, the development is a mix of one, two, three and four bedroom apartments. It includes a range of premium resident amenities, including a pool, gym, spa, sauna, and large private terraces with stunning views of the city skyline and river.

Following the completion of the project in late 2023, Qualitas was mandated to provide a senior residual stock facility secured against completed apartments and a c.840sqm unsold retail space. Since the establishment of the facility, sales speed and price have exceeded expectations with almost all apartments sold.

Salta is a multi-faceted business with interests across all areas of property, including residential, commercial, retail, industrial and hotels, having delivered over 140 projects in the 50+ years they have operated.

This was a favourable project to finance due to the quality of the development. Qualitas was mandated given our long-standing relationship with Salta and our ability to provide a tailored financing solution that’s outside the remit of traditional financiers.

Mark Power | Head of Income Credit