Loan case study in Mosman, NSW
Funding to assist with the development of a land subdivision and construction of three prestige homes.
The project involved demolition of an existing residential building, site and earth works, and construction of three luxury homes in the affluent suburb of Mosman, New South Wales. Mosman is in the midst of a transformation as a number of residents begin to demolish their older homes and undertake subdivision and construction projects. This activity is driven largely by housing demand within the suburb and a desire from existing residents to downscale their existing homes.
Upon completion, each home provides residents approximately 608 square metres spread across four levels. Each completed home will feature superior fittings with modern open-plan living, three bedrooms, courtyards, terrace and a private swimming pool. A shared basement with individual elevator access for each home comprises two car-parks per home and storage space. Adding to this prestigious opportunity, purchasers were able to customise their future homes during the build process.
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|LOAN AMOUNT||~ $8.5 million|
|LOAN TERM||16 months|
|REPAYMENT SOURCE||Sale of completed homes|
|LOAN-TO-VALUATION RATIO||60.21% on an “as-if-complete” basis|