FLEXIBLE CO-WORKING SPACE · PRETORIA
A finance professional who has been on both sides.
A view on CCS Income Notes, from someone who experienced the model.
2
Pretoria locations
3rd
in planning
CLIENT STORY · GRIT SPACE
Lukas van der Westhuizen works in finance. He understands what institutional capital looks for before it commits.
Productive people need productive infrastructure.
1
When Traditional Finance Can't
Banks required a track record that a new business between two pandemic waves could not provide. CCS assessed the assets based on what they would enable, what they would earn, and what would happen to them if the business could not pay. They provided the funding.
2
Growth is Enabled by Capital
The CCS capital also catalysed equity investment from others who wanted to join the business once the model was validated. Today Grit Space operates two Pretoria locations, with a third in planning and a national expansion roadmap in development.
“Their funding ignited the start of our business and put us in a position where other people also wanted to get involved from an equity point of view to grow this with us.”
The Asset Behind the Investment
The co-working fit-out, furniture, fibre, AV equipment, backup power, is the same category of productive asset that CCS has been financing across industries for eleven years: an identifiable asset with a clear income-generating function, a defined replacement cost, and recoverable value if the business cannot pay.
From Borrower to Investor
Lukas has assessed the CCS Income Notes from both sides of the transaction: as a borrower who has lived the model from the inside, and as a finance professional who understands investment structures.
His assessment: the risk profile is close to cash; the return is closer to equities.
For an investor constructing a private credit allocation, the Grit Space transaction also illustrates something the portfolio numbers cannot: co-working infrastructure has no correlation to speciality coffee, pet grooming, or e-hailing fleet economics.
The diversification across the CCS book is structural, not incidental.
That is what the 0.25% historical default rate, sustained across economic cycles that include the post-COVID rate shock, is evidence of.
CCS 5Y Prime +3% Income Notes.
Prime + 3% p.a. | Paid monthly | Invest from R5,000
Prime +3%
CCS Income Note return
~0.25%
CCS historical default rate
Lukas van der Westhuizen, Co-Founder, Grit Space
“There’s a slot in the middle. It’s asset-backed, so the risk is almost like cash, but the return is closer to equities. For most investors out there, there’s a big opportunity to add something like this to their portfolio.”
Four businesses. Four industries. One model.
Each business in this series illustrates a different structural quality of the CCS model. Together they constitute the track record behind the CCS Income Notes.
Speciality coffee shops
Mobile pet grooming. 9,000 dogs a month.
Co-working office space. Pretoria.
CCS Income Notes.
Prime +3% per annum.
Paid monthly. Invest from R5,000.
Issued under a registered prospectus.
This page does not constitute financial advice. Please read the prospectus before investing.