Case Study: Atlantic Towers

Atlantic Towers is a mixed-use 12 storey building near the beach at Glenelg, a vibrant Adelaide coastal suburb. There are offices, a café, a top-floor fine dining revolving restaurant, private apartments and motel accommodation. This unique property has high traffic through the main entrance every day.

"In late 2008," says Con Caracoussis, an owner and committee member, "we realised the building was going to need of a major lift upgrade within the next 12 months. Because of the building's high usage, we needed to make certain we had the funds available for the appropriate time so that the upgrade could be managed for minimum inconvenience and before further deterioration occurred."

"After investigating our funding options, the strata corporation quickly decided that a loan from Lannock would provide the swiftest and most financially efficient solution. We've been extremely satisfied with the result, which has allowed us to maintain a crucial building facility, and by the flexible funding arrangements with Lannock."

Mike Bonning, Strata Manager at Whittles Body Corporate Management, says "the lift upgrade took place over a few weeks in the last quarter of 2009. The owners were able to take care of this issue with little fuss or anxiety and to ensure it was done well, which is obviously the best outcome. I'm sure the owners would agree that Lannock have provided admirable service, more than proving the worth of what they offer."