CF10234 Bellbird Childcare Group Pty Ltd Opportunity
Client (borrower) details
Operator of two long day care centres buying the freehold of their Bibra Lake centre, which they've leased since opening in 2019. The landlord is selling and has offered them first right of refusal. 94% occupancy with a waitlist at both sites; owning the premises cuts occupancy costs by about $38k a year.
Loan details
Financial details
Funding
Will the property be funded solely from rental income?No
Net profit before tax$229,200
Amortisation$0
Depreciation$18,600
Existing interest costs$21,900
Rental expense$46,200
Proposed rental income (annual)-
Other questions
Does the business and/or the borrowing entity have any existing liabilities?Yes
Offering additional property security to support the equity position?No
Is the application an SMSF structure?No
Any existing or overdue ATO / tax liabilities?No
Any credit file issues e.g. paid or unpaid defaults?No
2.64ICR — interest cover ratio$315,900 income ÷ $119,650 interest (existing + new at 8.50%)
69.70%LVR — loan to value ratio$1,150,000 ÷ $1,650,000
Additional notes
Existing liabilities are an equipment finance facility on the Bateman centre fit-out (about $84k remaining). FY25 and FY26 financials and the landlord's sale offer are available on request.
Latest notes
Shared with the referrerPermanently removes CF10234, its notes and history. Can't be undone.
Opportunity notes
Discussion between Clue Finance and the referrer — Meridian Advisory Group sees every note here
Activity history
Unqualified opportunity
Lender emails
Key dates
People
PN
Priya Nair
Referrer · Meridian Advisory Group
MH
Megan Holloway
Borrower contact · Bellbird Childcare
OG
Olivia Grant
Lending Manager · assigned