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Loan case study in Narrandera, NSW

Funding to assist with the construction of a service station.

Project overview

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.

Borrower overview

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 specifics

APPROVED LOAN AMOUNT~ $2.4 million
APPROVED LOAN TERM9 months
REPAYMENT SOURCESale of completed service station
APPROVED LOAN-TO-VALUATION RATIO64.54% on an "as-if-complete" basis