Open for Investment
DA approved residential development site
The Loan is secured by a first registered mortgage over four (4) adjoining properties in Lidcombe, NSW, approximately 14kms west of the Sydney CBD.
The Borrower has obtained Development Approval to demolish all buildings on the four sites and construct a 10-storey residential apartment building containing 117 units, with 4 level basement parking.
The purpose of the Loan was to provide a short-term advance to assist with the acquisition of the Security Property.
The Borrower is a property development company and the directors have over 30 years development experience in residential apartment projects. The Borrower are currently completing a 90 apartment development adjacent to the Security Property which is being funded by a major Australian bank.
Target Return (net)7.95%
Loan to Value Ratio55%
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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