Open for Investment
Littleton Villas comprises the development of 62 residential townhouses to be completed over 3 stages. The security for this advance is 15 residual townhouses in Stage 2 and the balance of land in Stage 3.
Stages 1 and 2 have been successfully completed along with civil works over stage 3. All townhouses in Stage 1 and 6 out of 22 townhouses in Stage 2 have been sold and settled. The construction of the townhouses in Stage 3 will occur at a later stage.
The 15 residual lots comprise of detached and semi-detached 3-bedroom townhouses ranging in internal size from between 123m2 and 133m2.
It is envisaged that the sale of the 15 townhouses will fully repay the loan advance during the Loan Term. It is not intended that there will be any residual debt on the Stage 3 land at the expiration of the Loan Term.
The Borrower Group is a substantial and successful residential developer with over 30 years experience in residential development in Brisbane.
Target Return (net)7.7%
Loan to Value Ratio64%
Term to Run (Mths)11 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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