Funding to assist with the development of a rural residential land subdivision.
Loan Amount: $3,924,250.00
Loan-to-valuation Ratio: 55% on an "as-if-complete" basis
Approved Loan Term: 18 Months
Located within the established rural residential area of Woodford, this project comprised a 24-lot rural residential subdivision over a single stage. Median lot size of the development was 3,000 square metres, with one 7,551 square metre lot incorporating an existing dwelling and machinery shed.
Typically, rural residential projects have a longer sell down period than metro developments however, bolstered by Government grants and due to high quality and efficient delivery by the experienced developers, this project was settled, developed, and sold down well before the 18-month loan term.