Project overview
A loan to assist with the refinance of two properties and the construction of a seniors living development comprising nine contemporary townhouses. This development offers local residents wishing to stay in the desirable area a scaled down living space.
Located approximately 20 kilometres north-west of Sydney CBD, Pymble is an affluent suburb within Sydney’s upper north shore region. The completed properties are well positioned in walking distance to the Pymble railway station, and in close proximity to the Pacific Highway providing access to Sydney’s Orbital Network.
Borrower overview
The borrowing entity is a special-purpose vehicle (SPV) established in 2015. With a bachelor of industrial and civil engineering from Zhengshou University Henan, China, a registered construction engineer since 2005 and decades of work in building and construction, the development partner is highly experienced in this field.
Previous to this development the borrower completed a residential project of 40 apartments in Roseberry, NSW with a GRV of $46.45 million.
Loan specifics
| Approved Loan Amount | ~ $12 million |
| Approved Loan Term | 24 months |
| Repayment Source | Sale of completed townhouses |
| Approved Loan-To-Valuation Ratio | 62% on an “as-if-complete” basis |
