Retail / Showroom Development – Ruakaka

Retail / Showroom Development – Ruakaka
Finance

Loan Amount:

$2,580,000.00

Funding lines

Interest Rate:

8.25% p.a.
Term

Loan Term:

12 Months

Location

Location:

Ruakaka, Northland

Background

Loan Purpose:

  • Construction of a new commercial property in Ruakaka
  • The proposed development included a large modern industrial complex with an open plan rectangle floor format providing spaces for retail, café, bakery, produce storage, office space as well as a toilet block and mezzanine
  • A large portion of the earth and civil works had already been funded by the borrower
  • Interest is paid 100% by the borrower monthly
  • On-completion LVR = 58%
  • Additional property security