Residential Subdivision – Wellington

Residential Subdivision - Wellington - Omega Capital
Finance

Loan Amount:

$3.6M

Funding lines

Interest Rate:

7.95% p.a.
Term Length

Loan Term:

12 Months

Location

Location:

North Wellington

Background

Loan Purpose:

  • Provide finance for the completion of civil and earthworks required for a new 25 lot, 7079 sqm, residential sub-division.
  • 52% LVR (based on on-completion value).
  • The client was highly experienced and had a track record of successfully completing similar developments.
  • Sections (and ultimately units to be built) were comfortably within first home buyer price range.
  • The project was fully consented and costed.