INVESTMENT OVERVIEW
The Borrowers have backgrounds in property development and management. They source commercial and industrial properties for large investors, assisting with strategy development, tenant acquisition, and lease negotiations.
The purpose of this loan is to provide additional working capital and funds to complete the DA, obtain the building licence and market a project in Bellevue, Western Australia.
The Borrowers can’t get bank finance as their latest financials are not up to date.
Security on offer is the vacant block of land in Bellevue, an eastern suburb of Perth in Western Australia. The commercial zoned property is on 2,375sqm land comprising of four lots. The Borrowers are in the process of subdividing this further into eight lots.
The exit strategy is to refinance out or sell the property.
This loan has a ten month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by a First Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
