DFP secured land bank finance of $6.2 million for a subdivision in South Sydney, NSW.
Project Background
The borrower engaged DFP to obtain land subdivision finance, as they had experienced significant timing delays with their principal bank. The client had considerable experience in the land subdivision and a good pipeline of future projects.
DFP subsequently undertook its due diligence and provided a finance proposal to the client.
The timing of settlement of the land component became an issue subsequent to the finance proposal terms being provided and DFP negotiated staged terms with its capital partner to provide stage 1 funding, secure the land purchase and stage 2 funding for the subdivision works.
The Developer
The developer has successfully completed many projects and prides itself on being meticulously precise, which ultimately delivers high-quality projects. This developer is well equipped to take on all facets of any land subdivision projects and always delivers on time, under budget and to the highest of standards.
The Result
Fast land bank finance secured in two stages to secure land purchase and subdivision works.
- Loan amount: $6.25 million
- Term: 12 months
- 85% LVR on "as-is" land value and 33% GRV
DFP delivered:
- DFP delivered a quick and reliable funding solution.
- Arranged subdivision facility for $6.2 million and urgently arranged within two (2) weeks of engagement with the capital partners to settle the land component. This has been achieved and now final aspects of the subdivision drawdown facility is being finalised.
If you are looking to secure land bank finance, get in touch with the DFP finance team.