Recent Transactions
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Wulguru Hights, Townsville
Purpose of Loan: To fund the acquisition of a 197 staged land subdivision Loan Limit: $440,000 LVR: 50% of purchase price Loan Term: 12 months Facility Type: Term facility
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Buchanen St, West End
Purpose of Loan: To fund the acquisition of a future development site Loan Limit: $2,250,000 LVR: 75% of the as is value – valuation undertaken as a future development site Loan Term: 12 months Facility Type: Term facility
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Taringa Apartments
Purpose of Loan: To fund the development of 20 residential apartments under a 1st and 2nd mortgage Loan Limit: $6,850,000 1st mortgage and $1,250,000 2nd mortgage LVR: 75% of gross realisation Loan Term: 15 months, then converts to a term facility Facility Type: Construction facility Presales: 100% of debt cover
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Cloncurry
Purpose of Loan: To fund the development of 21 residential lots Loan Limit: $1,342,000 LVR: 80% of total development costs Loan Term: 12 months Facility Type: Construction facility Presales: 75% of debt cover
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Upper Roma St, Bris
Purpose of Loan: To fund the development of 46 residential units for a builder/developer Loan Limit: $12,980,000 LVR: 85% of hard costs Loan Term: 18 months Facility Type: Construction facility Presales: 60% of debt cover
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Springbank, Townsville
Purpose of Loan: To develop 202 units over 3 stages Loan Limit: $37,000,000 1st mortgage LVR: 1st mortgage to 80% of total development costs Loan Term: 36 months Facility Type: Construction facility Presales: 75% of debt cover net of GST
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Jade St, Coopers Plains
Purpose of Loan: Mezzanine facility to assist with the development of 17 residential townhouses Loan Limit: $1,075,000 LVR: 95% of total development costs Loan Term: 12 months Facility Type: Construction facility Presales: 85% of debt cover
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Dibar St, Wynnum
Purpose of Loan: To fund the development of 8 residential apartments Loan Limit: $1,600,000 LVR: 70% of gross realisation Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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Queens Rd, Taringa
Purpose of Loan: To fund the development of 9 residential apartments Loan Limit: $2,525,000 LVR: 80% of total development costs Loan Term: 12 months Facility Type: Construction facility Presales: 75% of debt cover
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Elizabeth St, Toowong
Purpose of Loan: Land bank a future development site Loan Limit: $2,655,000 Loan Term: 12 months, then converts to a term facility Facility Type: Commercial facility
