Loan case study in Narrandera, NSW
Funding to assist with the construction of a service station.
The project entailed the purchase of land and development of a service station in the regional suburb of Narrandera, New South Wales.
During construction, state borders closed and community restrictions arose, which meant flexibility was key to deliver this project on time and within budget. The developer negotiated interstate travel and permits for their workers, and received ongoing support from our Lending team to successfully complete the project.
Based in Victoria, the borrower group’s background lies in property development and project management, as well as civils and earthworks.
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|LOAN AMOUNT||~ $2.4 million|
|LOAN TERM||9 months|
|REPAYMENT SOURCE||Sale of completed service station|
|LOAN-TO-VALUATION RATIO||64.54% on an "as-if-complete" basis|