Paddington 10

The purpose of the issue is to enable the Company to lend the funds raised to Smart Capital Property & Development PTY LTD (ACN 616 212 527) (“Main SPV”) which will assist them to complete construction and bring to market a luxury renovated home at 10 Bernhard Street, Paddington, Brisbane, Qld, 4064 (“land”).            

P: 07 3667 8867



Days Left


$5000

Min Invest

6-9

Months

10-20%

Target Return

38

Investors
$767,000 raised of $1,000,000

INVEST HERE
* Note that this is a No Obligation Expression of interest, you get to review the Prospectus before making any decisions
** The information provided on this webpage is only a summary of the offer and may not contain all the information needed to determine if this offer is right for you. You should read the Prospectus in its entirety which can be downloaded in the Downloads section below as well as on the Project application page once you press the INVEST HERE button.

EXPLAINER VIDEO


Project Summary


for whom

Summary

The Company is seeking to raise up to $1,000,000 by offering investors the opportunity to purchase Redeemable Preference Shares in the Company under the offer. The investment objective is to provide you with investment exposure to a property development project with small investment amounts and a relatively short (6 to 9 months) investment time frame. The purpose of the issue is to enable the Company to lend the funds raised to Smart Capital Property & Development PTY LTD (ACN 616 212 527) (“Main SPV”) which will assist them to complete construction and bring to market a luxury renovated home at 10 Bernhard Street, Paddington, Brisbane, Qld, 4064 (“land”).

Note that even though the interest rate is set to 20% for the loan agreement between the Company and Main SPV, investors will only receive their return based on the amount they invest as explained in section 19.2.2 in the Prospectus. If there is any surplus left after distributing the proceeds as required to the investors, then it will be distributed to Ordinary shareholders.

Summary


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Investor Distribution

On completion of construction of 10 Bernhard Street, it will be sold on the market at the best available price. The Main SPV intends to use the receipts from the sale of the luxury home to repay the loan and associated interest to the Company. Investors in this offer will receive a Preference dividend as defined in the below table on their investment amount at this time. The expected time for the completion for this project is 6-9 months. It is however possible that the project may finish sooner. It is also possible that weather and other delays (see risks) may delay the completion of this project. In both scenarios investors Preference dividend return is fixed based on the amount they invest in the following table and will not change regardless of the time taken for the project. The Company will pay any Dividends only out of proceeds received as interest from the loan made to the Main SPV (Development Company explained further down) This loan payment can only be done using the proceeds from the sale of the completed house at 10 Bernhard Street and the Main SPV may extend the project time frame until such a sale is achieved.

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Suburb Profile




10 Bernard St, Paddington, 4064, Australia



for whom

Marketability

Paddington is an inner city suburb of Brisbane, Australia located 2 kilometres (1.2 mi) west of the Brisbane CBD. Many original and distinctive Queenslander homes can be found in the suburb. In recent years, Paddington has become a very desirable residential location. Between 2005 and 2010, the median house price has risen over 50% to $1,000,000. Paddington was one of the first, if not the first, suburbs to be gentrified, and developed a coffee culture in the 1980s which is still significant and vibrant today.

Marketability

residents

Dwelling prices

Analysis of residential sales between 2013 and 2017 indicates that the median price of a detached house in the Paddington area increased from $750,000 to $1,020,250 at an average rate of 7.39% per annum. The area only fell 4.66% during the GFC (Dec 2009).

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How To Invest


BankANZ
Account Name
BSB 014240
Account No
ReferencePadd (Investor Name)

INVEST HERE
* Note that this is a No Obligation Expression of interest, you get to review the Prospectus before making any decisions

Project FAQs


What type of company is this?

Australian Public Unlisted Company

What type of investment in this company is being offered?

On offer is the opportunity to subscribe to Preference Shares of SMART CAPITAL PADDINGTON 10 LIMITED . Investments start from $5,000 and can be up to a maximum of $1,000,000

What type of return is expected?

10-20% depending on your amount of investment. Please scroll up and refer to Investor Distribution section under PROJECT SUMMARY for the investment and return table. Details are also available in the Prospectus that you can download from this page.

What is the rank of this company's investment in the development entity?

SMART CAPITAL PADDINGTON 10 LIMITED is providing a mezzanine debt to the development entity. Therefore it ranks below any 1st Mortgagee (typically a bank) who is funding the project but above any shareholders of the development entity (the developers). This means you get your money before the developer get theirs.

What is the rank of my investment in this company?

Since you are subscribing to Redeemable Preference Shares, your investment ranks above those of the ordinary shareholders at SMART CAPITAL PADDINGTON 10 LIMITED.

Once I have invested, how can I receive updates?

The PROJECT PROGRESS section on the top of this page is periodically updated and will provide relevant information and updates time to time (typically on a quarterly basis).

When does subcription close for this round of funding?

Subscription closes on 8th July 2017 (unless the offer is fully subscribed earlier)