Greenfield Residential Subdivision
The Brokerage recently arranged development finance for a greenfield residential subdivision in a growth corridor comprising 20 Torrens title lots across three stages. The relatively new developer was referred to us by his lawyer after a previous lender had let them down right before commencement.
With no presale requirement and a compressed settlement timeline, this facility provided the developer with immediate funding certainty to refinance existing debt and launch construction. The streamlined structure and reduced compliance obligations ensured the project could move forward without delay.
Presales: Not required
Settlement: Fast-tracked to occur within 3 weeks, enabling refinance and immediate site commencement
Developer Profile: Junior developer however an experienced PM and Civil Contractor team
Ongoing Compliance: No ongoing QS reporting due to fixed-price works and an appointed project manager
Security: First Mortgage
Loan Size: $6,000,000
LVR: 50% on completion
Lender: Private Lender
To find out more about how we can help, contact our team today.
