Project Finance – Luxury Units

Purpose of Loan: To provide a construction facility for the development of 15 luxury residential units at New Farm

Loan Limit: 1st Mortgage – $11,535,000

LVR: 1st Mortgage – 77% of Total Development Costs ex GST

Loan Term: 18 months

Facility Type: Construction Loan

Interest Rate: 6.60% per annum + Line Fee Nil

Presales: 100% of debt cover