Open for Investment
Residential development site
The Loan is secured by way of first registered mortgage over a 5,620m2 residential development site, located in Northbourne Avenue in the well-established suburb of Dickson, ACT, approximately 2kms north of the Canberra CBD.
The Security Property forms one of three adjoining parcels of land being purchased by the Borrower Group from the ACT Government for future development.
The Borrower is an experienced builder/developer with over 15 years’ experience within the ACT property industry and will develop the Security Property into 243 residential apartments, over two buildings.
The purpose of the Loan was to refinance existing debt used to acquire the Security Property and provide equity release to assist with marketing and preliminary development costs over the Security Property.
Target Return (net)8.2%
Loan to Value Ratio60%
Term to Run (Mths)23 Mths
All Current Investments.
All loans are credit approved before being offered to investors. All target returns are net of fees.
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