3-Unit Industrial Warehouse Development – Bay Of Plenty

3-Unit Industrial Warehouse Development – Bay Of Plenty
Finance

Loan Amount:

$3,350,000

Funding lines

Interest Rate:

8.00% p.a.
Term Length

Loan Term:

12 Months

Location

Location:

Tauriko, Tauranga

Background

Loan Purpose:

  • Provide development finance for construction of 3 industrial units in Tauriko, Tauranga.
  • 63% LVR (based on on-completion value).
  • 100% of fees and interest costs provisioned within the loan amount.
  • The fixed price construction contract with a well-established Tauranga-based builder.
  • The client had a good track record of development experience.
  • No pre-sales were required however client had to commit to marketing the completed warehouses immediately. All 3 units sold during the loan term.