Client approached us to acquire an 8 unit development site.
Funding weas secured to the purchase $2,310,908.00 and development / construction costs associated with the Project estimated at $4,000,000.00 to settle on the development site.
For construction funding we were able to go up to the lower of $7,397,258 or 67.50% of Net Realisable Value of Project exclusive of GST. Up to 67.50% of Net Realisable Value. Loan term is for 18 months with an option to repay the loan after minimum term of 18 months with one month’s written notice.
