Residential Townhouse Development – South Auckland

Residential Townhouse Development – South Auckland
Finance

Loan Amount:

$2,300,000.00

Funding lines

Interest Rate:

7.95% p.a.
Term

Loan Term:

12 Months

Location

Location:

Conifer Grove, Auckland

Background

Loan Purpose:

  • To refinance debt against the property at Conifer Grove, Auckland, and fund construction of four townhouses on the site
  • Capable experienced developer
  • Development included demolishing existing dwellings and completing construction on townhouses as above
  • Resource Consent and Building Consent had been issued
  • Interest payments are 100% capitalized
  • On-Completion LVR = 65.5%
  • Repayment will be made upon settlement of sales of completed townhouses.