Funding to assist with the development of a residential land subdivision.
Loan Amount: $8,165,000.00 - $10,235,000.00
Loan-to-valuation Ratio: 59% on an "as-if-complete" basis
Approved Loan Term: 18 Months with rollover into additional stages.
Located in the well-regarded residential suburb of Forest Glen on the Sunshine Coast, this project comprised a 89 lot residential subdivision over four stages with lots ranging in size between 195 and 572 square metres.
Forest Glen is a predominantly acreage/rural residential suburb of the Sunshine Coast located approximately 10 kilometres west of the reginal centre of Maroochydore and approximately 93 kilometres north of the Brisbane CBD. Developed through the uncertainty of COVID-19, we worked closely with the Developer to ensure the project was delivered on time and within budget. Flexibility, strong communication, and regular site visits were all important components to achieve successful completion of this development.
Benefitting from Federal Government grants and policies, Stage 1 of the project completely sold out within a week of release to market.