A family-founded property development and construction company was preparing to deliver a flagship mixed-use project in Craigieburn, one of Victoria’s fastest growing urban corridors. The group offers end-to-end services across design, construction and project delivery, with a strong reputation for innovation, sustainability and high-quality outcomes. With consultants engaged and approvals finalised, the team was ready to begin construction. What they needed next was a finance partner who could unlock capital and keep momentum moving.
The Craigieburn project features a commercial building designed to meet rising demand in Melbourne’s northern growth corridor. The site includes a mix of retail, office and event spaces with on-site parking, offering long-term value for both tenants and the local community.
Located in a rapidly expanding suburb, the development responds to population growth and increased demand for flexible commercial space. Its scale and design are well suited to the area's evolving infrastructure and business needs.
Key Metrics
The developer was ready to begin construction, but limited preleases made it difficult to secure funding through traditional channels. Most banks require projects to be fully presold or prelet before releasing construction finance, which added a hurdle despite the project’s strong fundamentals and strategic location.
The client had no reservations about proceeding. Their primary need was a responsive funding solution that aligned with the project’s momentum and allowed construction to commence without delay.
Development Finance Partners delivered a comprehensive finance strategy tailored to the project’s delivery timeline and unique profile. The process began with early commissioning of valuations and quantity surveyor reports to support a fast-tracked credit assessment.
Rather than approaching a single lender, DFP engaged multiple non-bank funders to create a competitive lending environment. This broadened the scope of loan options and allowed the developer to access terms suited to the site’s commercial viability. With a detailed submission outlining project feasibility, demand and capability, DFP was able to negotiate reduced preleasing conditions.
In addition, previously incurred consultant and approval costs were recognised as part of the equity contribution. This alleviated the immediate cash burden and preserved working capital for project delivery. DFP worked closely with the chosen lender’s credit and legal teams to streamline approvals and ensure documentation was finalised without delays. Construction was able to commence on schedule with confidence.
DFP secured an $8.596 million construction loan covering 90%of total project costs and 70% of valuation. The finance allowed the developer to begin immediately, without requiring additional equity or further preleases.
Key outcomes included:
With funding secured and works underway, the developer is progressing toward delivery of a high-quality commercial centre that supports local businesses and community needs.
This project demonstrates the power of customised construction finance solutions for commercial developers. In situations where traditional bank funding is limited by preleasing hurdles, non-bank options can provide a timely and effective path forward.
DFP’s ability to assess lender appetite, understand market dynamics and coordinate all aspects of finance delivery gave the client the structure and confidence to move ahead. For other developers navigating similar challenges, this case illustrates the importance of working with a partner who understands both the finance and development sides of the equation.
Whether expanding in a growth corridor like Craigieburn or launching a new commercial initiative, DFP provides the experience and insight to help developers achieve faster, more flexible funding outcomes.