Office fit-out
| purpose | Office fit-out |
| loan limit | $21,000,000 |
| lvr | 100% eligible debtors |
| loan term | 7 years |
| facility type | Operating lease |
| interest rate | Fixed for term |
Having strong lines to operating and finance lease products Balmain Guarantee were able to provide office fit-out finance off-balance sheet with 10% residual.
The client tendered to build a development for a government instrumentality. The building itself (excluding fit-out) was to be sold off to a listed property fund and leased back to a government tenant over 20 years.
The tenant needed to spend $21million on furniture, fixtures and fittings and had a mandatory requirement to fund the expenditure off-balance sheet. Balmain were able to create a structure whereby the tenant entered into an operating lease with for the $21million of fit-out that satisfied their off-balance sheet requirements.
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