Commercial Retail Development – Christchurch

Commercial Retail Development - Christchurch
Finance

Loan Amount:

$5.2M

Funding lines

Interest Rate:

8.50% p.a.
Term Length

Loan Term:

12 Months

Location

Location:

Christchurch

Background

Loan Purpose:

  • Provide finance for the construction of an 8-unit retail development in two 4-unit blocks.  
  • 63.8% LVR (based on on-completion value)
  • The project had 3 pre-leases and one pre-sale. 
  • The borrower had equity in the land and contributed some funds towards the project costs.
  • Well located retail site with the completed building having a flexible layout with tenancies at a good saleable size and value.