Lease Doc Commercial Loans in Perth

Perth's lease doc strength lies in medical, childcare and mining-services-tenanted industrial

The strongest Perth lease doc segments are medical centres in the established northern, southern and eastern suburban corridors, childcare across the metropolitan area, and industrial leased to mining-services operators on long terms. All three asset types attract competitive lender appetite because the lease covenant — long terms, established operators, fixed reviews — supports the loan service entirely.

ICR is the binding constraint

Perth lease doc lenders require minimum Interest Coverage Ratios of 1.40–1.50× on lease income at the assessment rate. With current Perth commercial yields sitting at 5.25–6.25% for prime medical and childcare, and assessment rates around 7.5–8.0%, achievable LVR at policy ICR is usually 58–65% rather than the 65% theoretical cap on standard assets. We model ICR before recommending structure.

Mining-services-tenanted industrial is a Perth specialty

Industrial assets leased to established mining-services operators on long terms with fixed reviews are well-supported on lease doc. The asset profile is well-understood by the local lender panel — the operator's contract pipeline supports the lease covenant, and the industrial asset itself has clear alternative-use tenanting if the operator vacates. Pricing is competitive with eastern-states equivalents.

$4.8M childcare centre, Joondalup

110-place purpose-built centre on a 15-year lease to a national operator with 3.5% annual reviews. Net rent $335k. Funded at 65% LVR ($3.12M) on lease doc at 6.85% IO with annual rate review. ICR at 7.75% assessment rate: 1.62× — comfortably within policy. No personal guarantees beyond standard director limit.

$3.2M medical centre, Cockburn

Multi-tenanted GP and allied health centre, 4 tenants on 5+5 leases, 6.0-year WALE on principal tenant. Funded at 62% LVR ($1.98M), 7.05% IO. Lease covenant alone serviced the loan; borrower's full doc capacity was preserved for two concurrent owner-occupied acquisitions.

$4.2M industrial, Welshpool

Single-tenant 2,400sqm fabrication facility on a 10-year lease to a mining-services operator with 4% fixed reviews. Funded at 64% LVR ($2.69M) lease doc at 6.95% IO. The operator's mining-contract pipeline supported the lease covenant; the asset's alternative-use tenanting profile provided lender comfort.