Property Development Finance is our specialty!
We have secured funding facilities for multiple property development projects around Australia. From small townhouse projects to high rise residential buildings, land subdivisions, and business park developments, Concord Finance can assist you from the land purchase all the way to the construction completion of the project.
Unlike Home Loans or Commercial Finance, the majority of Development Finance deals are more complex and demand expertise in structuring the application for the lender.
We can secure funding up to 75% of the Total Development Cost (TDC) or 65% of the Gross Realisation Value (GRV).
Given that development projects differ in size, location, and experience of the property developer, there are many factors that lenders will look into on a case by case application.
Recent Case Study
Our client was seeking a construction loan to develop 36 residential apartments. Here is what we secured from a major bank:
Loan Facility: $18,000,000
Interest Rate: 5.20% pa.
Line Fee: Nil.
LVR: 80% of TDC.
The fact that no line fee was charged on the loan facility, our client will effectively save approximately $360,000 over the term of the loan.
Are you a Property Developer seeking finance for your next project?