Construction Loan – Mixed-use Building

1 May 2021

Sydney, NSW

Mixed-Use Loan

Commercial & Residential Mixed-Use Building

The Brokerage arranged funding for an existing client to develop a mixed use building, comprising ground floor commercial tenancies and 70 residential units above.
When we were mandated to seek funding for site acquisition and construction finance, the site was under option although had DA and a small amount of presales.

Our Solution

Funding was provided in 3 tranches, with the first tranche being for site acquisition. Construction funding was approved to drawdown with an initial 45% presale coverage and then a 3rd tranche was made available to drawdown and repay some developers equity once 68% presale coverage was achieved.

Overall, The Brokerage was also able to secure a highly favourable gearing level of 93% against the actual total development costs.

Loan Amount$39,500,000
Gearing65% and 93% TDC
To find out more about how we can help, contact our team today.