Funding to assist with the construction of nine townhouses, and relocation and renovation of three detached homes.
Loan Amount: $5,538,000.00
Loan-to-valuation Ratio: 65% on an "as-if-complete" basis
Approved Loan Term: 18 Months
Blending old with new, this project comprised of nine modern townhouses and the relocation and extensive renovation of three ‘Queenslanders’ that were original to the site. This layout was achieved by placing the two and three level attached townhouses in a single building to the rear of site and relocatingthe detached dwellings to the street frontage.
Stones Corner is an established residential suburb in the south-east of Brisbane with the subject property being approximately 6 kilometres from the Brisbane CBD.
The quality of development within Stones Corner varies from older to modern style (renovated) detached residential dwellings of original to good quality, in addition to semi-modern and modern residential townhouse developments. The area is well established with a variety of local shops, bus transport services, schools, and parkland.
This project was delivered with fantastic finishes by an experienced local developer and is a great example of the ‘missing middle’ product that inner ring Brisbane suburbs so desperately need.