Background

Loan Purpose:

• To acquire the security properties in Queenwood Hamilton and complete a 6-unit duplex development
• 2 out of the 6 units were pre-sold
• Development loan with an appointed Quantity Survey to certify monthly drawdowns from
• development funds held by the lender
• Interest is 100% capitalised and paid monthly from the interest provision retained in the Lenders Trust Account
• On-completion LVR after presales = 44.3%
• Repayment made upon the sale of completed units