INVESTMENT OVERVIEW
The Borrowers have backgrounds as civil contractors and are now developing their own commercial property for wealth generation. They have recently developed three unencumbered factories in Queensland.
The purpose of this loan is to repay an ATO debt.
The Borrowers can’t get bank finance due to the ATO debt.
Security on offer is the industrial property in Yandina, a rural town in Sunshine Coast, Queensland. The property is on 214msq land which comprises a multi-warehouse facility with a kitchenette and bathroom in each unit.
The exit strategy is to sell two of the warehouse units in Yandina, Queensland to pay debt.
This loan has a twelve month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by a First Mortgage
- Two Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
